Marketing models: a review of the literature

This paper reports the results of a systematic review of recent literature on the use of mathematical models in the marketing field to identify the main aims of model adoption in various functional areas of marketing.
Eryigit

Marketing models: a review of the literature

Canan Eryigit

Hacettepe University, Turkey

Introduction

The competitive advantage of a business depends on the successful analysis and transformation of relevant data to marketing knowledge, rather than sole possession of such data (Van Bruggen & Wierenga 2000). Transformation of data into marketing knowledge requires thoroughly tested and validated marketing models. The use of marketing models1helps managers to make better decisions by exploring more decision options, assessing the relative impact of variables, facilitating group decision making and updating mental models of decision makers, which leads to more consistent final decisions (Lilien...

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