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 [...]
Entries Tagged as 'models'
Building models
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Verbal and statistical models
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Verbal model: description of a market launch
The word-of-mouth spread of knowledge about a product is an example of a simple verbal model.
When a product or service is launched, sales often start slowly until some people (early adopters) become aware of the product.
They buy it and start using it. If they are satisfied with the product, [...]
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Marketing Models and Properties of a Good Model
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According to one of the pioneers of marketing models, John Little (1970):
? good models are hard to find;
? good parameterization is even harder;
? managers do not understand models;
? most models are incomplete.
There can be little doubt that Little’s statement is of even greater relevance if we deal with models that aim to describe and analyze international or cross-cultural marketing [...]
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