[MARK] Marketing: working papers (RePEc, 06/09/2010)

Source : NEP (New Economics Papers) | RePEc

  • Endogeneity and Exogeneity in Sales Response Functions
Date: 2010-01
By: Wolfgang Polasek (Institute for Advanced Studies (IHS), Austria; The Rimini Centre for Economic Analysis (RCEA), Italy)
URL: http://d.repec.org/n?u=RePEc:rim:rimwps:21_10&r=mkt
Endogeneity and exogeneity are topics that are mainly discussed in macroeconomics. We show that sales response functions (SRF) are exposed to the same problem if we assume that the control variables in a SRF refl ect behavioral reactions of the supply side. The supply side actions are covering a flexible marketing component which could interact with the sales responses if sales managers decide to react fast according to new market situations. A recent article of Kao et al. (2005) suggested to use a class of production functions under constraints to estimate the sales responses that are subject to marketing strategies. In this paper we demonstrate this approach with a simple SRF(1) model that contains one endogenous variable. Such models can be extended by further exogenous variables leading to SRF-X models. The new modeling approach leads to a multivariate equation system and will be demonstrated using data from a pharma- marketing survey in German regions.
Keywords: Sales response functions, stochastic derivative constraints, simultaneous estimation, MCMC, pharma-marketing, model choice
  • Finding the Influentials that Drive the Diffusion of New Technologies
Date: 2010-05-31
By: Hernández-Mireles, C.
URL: http://d.repec.org/n?u=RePEc:dgr:eureri:1765019671&r=mkt
In this article we put forward a model where aggregate sales are a function of the online search of potential consumers at many locations. We argue that a location may be influential because of its power to drive aggregate sales and this power may be dynamic and evolving in time. Second, the influential locations may produce spillover effects over their neighbors and hence we may observe clusters of influence. We apply Bayesian Variable Selection (BVS) techniques and we use Multivariate Conditional Autoregressive Models (MCAR) to identify influentials locations and their clustering. Our results indicate that the influential locations and their economic value (measured by search elasticities) vary over time. Moreover, we find significant geographical clusters of influential locations and the clusters composition varies during the life-cycle of the consoles. Finally, we find weak evidence that demographics explain the proba bility of a location to be influential.
Keywords: diffusion;new products;variable selection;spatial modeling
  • The Impact of Corporate Rebranding on the Firm’s Market Value
Date: 2010-07
By: Maria Rosa Borges
Ana Sofia Branca
URL: http://d.repec.org/n?u=RePEc:ise:isegwp:wp132010&r=mkt
Rebranding corresponds to the creation of a new name, term, symbol, design or a combination of them for an established brand with the intention of developing a differentiated position in the mind of stakeholders and competitors. Increased competition has led firms to an avenue of differentiation, and rebranding has been approached by firms in order to differentiate themselves and to promote the corporate image. Corporate rebranding, although commonly referred in the press, has received little attention from academia. This paper tends to contribute to fill this gap in the academic literature, by analysing the impact that corporate image through rebranding has on the firms’ stock market value, using event study methodologies. We focus on firms listed on the Lisbon Stock Market in the period 2000 – February 2009. We do not find evidence of a positive impact of corporate rebranding on firm value, in Portuguese firms. In f act, our results suggest that these events may have a negative impact on firm value, even though our empirical evidence is weak, in supporting this conclusion.
Keywords: corporate image; rebranding; market value; event study
JEL: G14

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