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Building models

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Leeflang and Wittink (2000) provide a checklist of topics that a researcher should consider prior to building a model.

? Every model builder must evaluate whether the use of a model can improve managerial decision-making.

? The builder should define the intended use of the model (what is it good for?).

? The complexity, completeness and integration ought to be assessed.

? How can the necessary data be obtained? Are they accessible and available in the appropriate level of aggregation?

? The structure of the model must be easy to understand and appear straightforward to implement.

? A specification of the level of analysis ought to be clear: does one focus on generic product categories or selected brands?

? Can the model parameters of interest be estimated?

? Does the model have diagnostic predictive properties?

? Can cost and benefit figures be assessed?

? Is the model useable?

? Can it be improved and updated?

Needless to say, few, if any, models meet all of the above expectations. Finally, we might add one more quality merit. Does the model possess global properties: is it “globalizable”?

A comprehensive source on marketing models is Lilien et al. (1992) as well as the special issue of the International Journal of Research in Marketing (Various, 2000).
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