Economics’ Gift to Marketing
Most new products fail and most high-volume marketing campaigns generate slim returns. Companies trip up when they try to estimate customer demand through weak market research, extrapolation from the past, or plain instinct. Fortunately, the science of discrete choice modeling is a powerful antidote to ignorance. It allows companies to estimate demand and know exactly how and why customers will make decisions, minimizing the business … [ Read more ]
Content: Article | Authors: Eric Almquist, Martin Kon, Wolfgang Bock | Source: Mercer Management Journal | Subjects: Market Research, Marketing / Sales