Handbook of Marketing Analytics
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Handbook of Marketing Analytics

Methods and Applications in Marketing Management, Public Policy, and Litigation Support

Edited by Natalie Mizik and Dominique M. Hanssens

Marketing Science contributes significantly to the development and validation of analytical tools with a wide range of applications in business, public policy and litigation support. The Handbook of Marketing Analytics showcases the analytical methods used in marketing and their high-impact real-life applications. Fourteen chapters provide an overview of specific marketing analytic methods in some technical detail and 22 case studies present thorough examples of the use of each method in marketing management, public policy, and litigation support. All contributing authors are recognized authorities in their area of specialty.
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Chapter 7: Modeling choice processes in marketing

John Roberts and Denzil G. Fiebig

Abstract

This chapter examines the use of choice models in marketing. After briefly describing the genesis of choice modeling, we introduce the two basic workhorses in choice modeling, the logit and probit models. We use these two models as a platform from which to show how additional phenomena can be introduced, including multistage decision processes, dynamic models, and heterogeneity. After a description of some more advanced models, we close by illustrating how these models may be used to provide insight to marketing managers by discussing a number of choice modeling applications.

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