Premium Essay

Quantitative Models

In: Business and Management

Submitted By chiaracolucci
Words 72409
Pages 290
This page intentionally left blank

Quantitative Models in Marketing Research
Recent advances in data collection and data storage techniques enable marketing researchers to study the characteristics of a large range of transactions and purchases, in particular the effects of household-specific characteristics and marketing-mix variables.
This book presents the most important and practically relevant quantitative models for marketing research. Each model is presented in detail with a self-contained discussion, which includes: a demonstration of the mechanics of the model, empirical analysis, real-world examples, and interpretation of results and findings. The reader of the book will learn how to apply the techniques, as well as understand the latest methodological developments in the academic literature.
Pathways are offered in the book for students and practitioners with differing statistical and mathematical skill levels, although a basic knowledge of elementary numerical techniques is assumed.
PHILIP HANS FRANSES is Professor of Applied Econometrics affiliated with the Econometric Institute and Professor of Marketing Research affiliated with the Department of Marketing and Organization, both at Erasmus
University Rotterdam. He has written successful textbooks in time series analysis. RICHARD PAAP is Postdoctoral Researcher with the Rotterdam Institute for Business Economic Studies at Erasmus University Rotterdam. His research interests cover applied (macro-)econometrics, Bayesian statistics, time series analysis, and marketing research.

Quantitative Models in Marketing Research

Philip Hans Franses and Richard Paap

         
The Pitt Building, Trumpington Street, Cambridge, United Kingdom
  
The Edinburgh Building, Cambridge CB2 2RU, UK
40 West 20th...

Similar Documents

Free Essay

The Power of Models and Modeling

...comparison between model in the past and the present, and how models become more restraints than before. Also we will talk about the advantage of using models and how they can make our life much easy. Models have evolved since the beginning of the century. There are many kinds of models for almost any system or item that exist. Each model uses short, long, simple or complex mathematics formula it depends of which case the models solve. However the models that are used in these recent years are very complex and have many numerous computations which make the only one that can handle it is the computer. These kinds of models are usually use in a wide variety of tasks, such as prevision of the decision made, and an effective answer to everyday problems. During time, models start to be more restraints than before. These kinds of restraints should have value or weight to make a model compatible with the case that model solve. There are several constraints or restraints in each models, one of the most important one is budget of the project. In other words the more wherewithal, the more model accuracy. Mark P. McDonald  (  December 8, 2010). To use complex mathematical formula in the models it requires an educated staffs with a good knowledge of model branch, which make the model more expensive and take more time to solve it, comparing with computer time and cost. However the need of special educated persons is strictly required to conclude if the models created by......

Words: 824 - Pages: 4

Premium Essay

Social Work

...seeks to look at two major research methods namely quantitative research and qualitative research method. The purpose of this essay is to analyze four main differences between quantitative and qualitative research. Amongst the key points to be examined in this essay include the difference in the data format, difference in their analytical objectives and flexibility in their study design. To fully understand, the foregoing essay there is need to define the term Research. Leedy and Ormrod (2001), define research as the process of collecting, analyzing and interpreting data in order to understand a phenomenon. Allaga and Gunderson (2000), defines Quantitative Research as explaining phenomena by collecting numerical data that are analyzed using mathematically based (in particular statistics). Creswell (2002), posits that Quantitative research uses mathematical models as methodology of data analysis, he further asserts that if there are no numbers involved, then it’s not quantitative. Qualitative research is an unfolding model that occurs in the natural setting that enables the researcher to a level of detail from high involvement in the actual experiences, Creswell (2003). Bryman (2008) asserts that qualitative research aims to generate a theory through making new concepts in observing social practices and events in depths and it provides a great deal of descriptive writing. To begin with, one of the differences between quantitative and qualitative research is their......

Words: 856 - Pages: 4

Premium Essay

Qualitative vs Quantitative

...Qualitative Versus Quantitative Research Methods Martin Berkshire Indiana Tech Abstract This paper will discuss the varying thoughts of utilizing a qualitative approach to research versus a quantitative approach. It will look at scenarios from different aspects of the business world and compare the use of both approaches. Not all of the articles feel the same way about the research methods. Tauber (1987), is very clear on his take that qualitative research should be able to stand alone from quantitative research. While Carlson and Gold (2008), suggest that combining the two forms of research can lead to superior results. Qualitative Versus Quantitative Research Methods There are many types of definitions for the term Qualitative Data, according to Anderson, Sweeney, Williams (2008) “qualitative data is considered labels or names used to identify an attribute of each element.”(18) They go on to say that qualitative data can be either nonnumeric or numeric in nature and can use either the nominal or ordinal scale of measurement. The site BusinessDictionary.com defines qualitative data as “data that approximates or characterizes but does not measure the attributes, characteristics, properties, etc., of a thing or phenomenon. Qualitative data describes whereas quantitative data defines.” While the definitions of qualitative data vary, the definition of quantitative data remains fairly consistent. Quantitative data is defined as “numeric values that indicate...

Words: 1535 - Pages: 7

Premium Essay

Geospatial Science

...the distinction between primary and secondary data sources? What are the five major types of data collection in geography? What are some of the ways geographers and others have made a distinction between quantitative and qualitative methods, and how do they relate to scientific and humanistic approaches in geography? I n the previous chapter, we explained that the empirical part of scientific research involves systematically observing cases in order to record measurements of variables that reflect properties of those cases. Researchers analyze the resulting set of data (usually numbers) graphically, verbally, and mathematically in order to learn something about the properties of the cases. Data collection efforts do not generally go on continuously but are grouped into periods of activity focused on particular research issues or questions. Such a focused period of data collection and analysis is a study (in Chapter 7, we learn that there are two major categories of scientific studies, experimental and nonexperimental). In this chapter, we introduce some basic characteristics of data collection in geography, including the distinction between primary and secondary data sources, the five major types of data collection, and the distinction between quantitative and qualitative methods. 35 03-Montello-4862.qxd 1/30/2006 12:17 PM Page 36 36——AN INTRODUCTION TO SCIENTIFIC RESEARCH METHODS IN GEOGRAPHY Primary and Secondary Data Sources One......

Words: 3668 - Pages: 15

Premium Essay

Forecasting

...The business world is an ever-changing and evolving environment that affects companies on a daily basis. Forecasting allows managers to plan according to future events and be prepared to use the system accordingly. With a prediction of the future managers reduce uncertainty and develop plans. The historical data is put together and analyzed to determine forecast events. All large companies use forecasting to make important strategic business decision. This helps them save costs and manage their resources effectively. A firm that is prepared for future occurences will have a healthy financial position. Forecast is of great use to a company because it affects several departments throughout the company. Some of the departments affected are: accounting and finance, marketing, operations, human resources, and information systems. Budgeting, sales, production, inventory control, capacity planning, and purchasing make use of forecasting. Accounting and finance use the data collected to estimate future costs, predict profit or loss, and identify resources available. The marketing department uses forecasting to predict prices and create promotions. The operations of a company is able to run smoothly because job schedules, production schedules, capacity planning, inventory planning, and detecting outsourcing needs are predicted ahead of time. Human resources also benefits from forecasting because seasonal or cyclical hiring is scheduled ahead of time. The company’s information......

Words: 551 - Pages: 3

Premium Essay

Difference Between Quantitative And Qualitative Research

...distinct contexts in which they would be more useful. The contrast between qualitative and quantitative research can be thought of as the battle between empirics and constructs, with both leading to truths but in different ways. Indeed, there are methodological differences between qualitative and quantitative research. For one, quantitative research relies on hard data with numbers and figures whereas qualitative research depends less on cold hard numbers and more so on commentary and reasoning. As such, the methods used to gather data vastly differ as well. Quantitative research depends on instruments such as databases and censuses while qualitative data may warrant interviews, surveys and observations. This leads to yet another methodological dissimilarity, namely that of objectivity. Although the implications of data may be open to differing interpretations, quantitative data itself is a matter of fact. Qualitative data on the other hand, provides data that the researcher must draw results from using inductive reasoning. Lastly and perhaps most importantly, the two research methods differ in terms of what they are designed to do. Qualitative research aims to explain how and why certain things happen. Because quantitative research has no way of showing clear cut causality, it can be said that quantitative research is intended to be conclusive. Putting it in a simpler analogy, quantitative research would do measurements hundreds of rooms to figure out that a room’s......

Words: 1257 - Pages: 6

Premium Essay

Quantitative

...Combining Qualitative and Quantitative Methods In Environmental Accounting Research Evangeline Elijido-Ten Faculty of Business and Enterprise, Swinburne University of Technology Address for correspondence: Faculty of Business and Enterprise Swinburne University of Technology John Street, Hawthorn Victoria, Australia 3122 Phone: +61 3 9214 4471 Fax: +61 3 9819 2117 E-mail: eelijidoten@swin.edu.au 1 Combining Qualitative and Quantitative Methods In Environmental Accounting Research Abstract Purpose: To explore how the combination of quantitative and qualitative methods can enhance a study on the environmental reporting decisions made by Malaysian companies using the emergent stakeholder theory. Methodology/approach: The paper provides an illustration of how the descriptive, exploratory and explanatory type of research is entrenched with the objectives of the research and how the combination of quantitative (statistical regression and weighting/mean ranking) and qualitative (archival analysis, qualitative interviews) methods may enhance accounting research not only from results that corroborate. Findings: The three-fold objective of this study, corresponding to its three phases, illustrates that combining qualitative and quantitative methods involves considerations at each phase of the investigation. The research design shows that when the researcher work with different types of data within the same project, the way data is used......

Words: 4323 - Pages: 18

Premium Essay

Ch Key Words

...able to use the following words and concepts: Clique - in a sociogram, when three or more persons within a larger group select one another as a subgroup. (p. 124) Closed questions - specific questions that can normally be answered either yes or no. (p. 125) Data - unstructured, unformed facts. (p. 121) Diagnosis - analysis of problem(s). (p. 118) Diagnostic models - provide a conceptual framework to understand the organization, its many components, and how well they function as a system. (p. 127) Differentiation and integration model - a diagnostic model that stresses the importance of a sound analytical diagnosis as the basis for planned change in organizations. (p. 127) Directed interview - interview in which only specific information is sought. (p. 125) Driving forces - opposite forces to restraining forces. Driving forces put pressure on the organization to change. (p. 129) Equilibrium – a term used in the force-field analysis model that refers to the restraining forces and driving forces for change being equal or in balance. (p. 129) Force-field analysis model - this model weighs forces for and against change. Restraining forces keep the organization stable and driving forces put pressure on the organization for change. (p. 129) Hawthorne effect - the effect of the observer on the subject. The act of investigating or observing may influence the behavior of those being investigated. (p. 127) Information - data that has structure and......

Words: 523 - Pages: 3

Free Essay

Anitia Norris Model Management

...S ANITA NORRIS MODEL MANAGEMENT w 9B10D013 Authorized for use only in the course BSAD 471 Strategic Management at St. Francis Xavier University taught by Brad Long from Jan 05, 2015 to Apr 17, 2015. Use outside these parameters is a copyright violation. Prashob Menon and Paul Lee wrote this case under the supervision of Professor John Haywood-Farmer solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors might have disguised certain names and other identifying information to protect confidentiality. Richard Ivey School of Business Foundation prohibits any form of reproduction, storage or transmission without its written permission. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Richard Ivey School of Business Foundation, The University of Western Ontario, London, Ontario, Canada, N6A 3K7; phone (519) 661-3208; fax (519) 661-3882; e-mail cases@ivey.uwo.ca. Copyright © 2010, Richard Ivey School of Business Foundation Version: (A) 2010-09-10 On March 17, 2010, Anita Norris, owner of Anita Norris Model Management (ANMM) of London, Ontario was contemplating the future of her business. In the two years since Norris started ANMM, the business had grown quickly through her efforts to pursue any revenue stream that......

Words: 7564 - Pages: 31

Premium Essay

A Thesis

...Iowa State University Digital Repository @ Iowa State University Graduate Theses and Dissertations Graduate College 2014 A review of studies on luxury hotels over the past two decades Yin Chu Iowa State University Follow this and additional works at: http://lib.dr.iastate.edu/etd Part of the Advertising and Promotion Management Commons, Business Administration, Management, and Operations Commons, Home Economics Commons, Management Sciences and Quantitative Methods Commons, and the Marketing Commons Recommended Citation Chu, Yin, "A review of studies on luxury hotels over the past two decades" (2014). Graduate Theses and Dissertations. Paper 13913. This Thesis is brought to you for free and open access by the Graduate College at Digital Repository @ Iowa State University. It has been accepted for inclusion in Graduate Theses and Dissertations by an authorized administrator of Digital Repository @ Iowa State University. For more information, please contact hinefuku@iastate.edu. A review of studies on luxury hotels over the past two decades by Yin Chu A thesis submitted to the graduate faculty in partial fulfillment of the requirements for the degree of MASTER OF SCIENCE Major: Hospitality Management Program of Study Committee: Liang (Rebecca) Tang, Major Professor Tianshu Zheng Fatma Baytar Iowa State University Ames, Iowa 2014 Copyright © Yin Chu, 2014. All rights reserved. ii TABLE OF CONTENTS Page LIST OF TABLES ....

Words: 22164 - Pages: 89

Premium Essay

Ibrar 3

...status, political affiliation, etc.).This is just an exploratory phase that is undertaken using graphical representations and statistical measures that are not inferential. Explanation: Here we can uncover cause and effect relationships that involve precise hypotheses to be confronted that deals with inferences. Forecasting: This phase deals with the predictions about the conclusions of the research to be conducted, based on the past descriptive research and trends. Modeling: Here we can present our study in a structured way by building some mathematical models which are designed to improve understanding of research. Evaluation: By studying research we can evaluate the effectiveness of a certain research programs in various sectors. What Is a Theory? A theory is a based upon a hypothesis and backed by evidence. A theory presents a concept or idea that is testable. In social sciences, theories are used to provide a model for understanding human thoughts, emotions and behaviors. A social sciences theory has two key components: (1) It describes a behavior (2) It makes predictions about future behaviors. The Purpose of Theory (1)Structured Way of Exploration (2) Interpretation of Certain Experiences (3) The Catalog of Experiences (4) Enthusiasm for Exploration (5) To Know the Reality Levels of Theory Micro level Theory: Micro-level theories are concerned with individuals and their interactions. For example the relationship between adult...

Words: 669 - Pages: 3

Premium Essay

Managing Human Resource

...Primery Research Proposal 1. Proposal topic name approved by your Supervisor : Ans : yes 2. The name of the topic is mentioned in the order form : Ans : yes 3. The name of the approved topic to work has given below : Ans : An evaluation on pricing strategy of online Marketing and its impact on customer demand management - A Case Study of Adidas UK Please amend the title as per feed back provided by the tutor. Please strictly follow the structure and guidelines. Order Id: EHUK4113 Please read the additional requirements (Please add research hypothesis). NOTE: Please read carefully sample proposal, Marks sheet and guidelines. - need proper Gantt chart like sample attached - need to check how they give marks (mark sheet) so that client can get more marks Page 1/6 Primery Research - need nice presentation, need page numbering and proper table of content - Please check tutor's feedback on proposal A and fix the proposal accordingly. 4. The aim, objectives and research questions of the Proposal are already approved : Ans : yes 5. The attachment of already approved aims, objectives and research question details has already sent in the order form to follow throughout the research : Ans : yes 6. All the documents send in this regards are properly visible, readable and understandable : Ans : yes 7. A structured outline of the Proposal has provided by the SUPERVISOR : a. Number of journals : Ans : 18 b. Number of books : Ans : 4 c. Number of......

Words: 877 - Pages: 4

Premium Essay

Research

...4/8/2014 4/8/2014 Assignment of research methodology Qualitative and quantitative Assignment of research methodology Qualitative and quantitative Research: Noun: 1. The systematic investigation into and study of materials and sources in order to establish facts and reach new conclusions. Verb: 1. Investigate systematically. Definitions: John .W. Best: Research is a systematic and objective analysis and recording of controlled observations that may lead to the development of generalizations, principles, theories and concepts, resulting in prediction for seeing and possibly ultimate control of events. Clifford woody: Research is a careful enquiry or examination in seeking facts or principles, a diligent investigation to ascertain something. Methodology: is the systematic, theoretical analysis of the methods applied to a field of study, or the theoretical analysis of the body of methods and principles associated with a branch of knowledge. It, typically, encompasses concepts such as paradigm, theoretical model, phases and quantitative or qualitative techniques. Research methodology: The process used to collect information and data for the purpose of making business decisions. The methodology may include publication research, interviews, surveys and other research techniques, and could include both present and historical information. THE PURPOSE OF RESEARCH: The main purpose and role of research is to help plan......

Words: 2030 - Pages: 9

Premium Essay

Association of Mental Health with Health Care Use and Cost: a Population Study

...research, the most suitable method to be used as an analysis of this study should be mixed between qualitative and quantitative. In order to gain a more in depth understanding of mental health and its association with healthcare cost and use, not only should quantitative measures be used, but a deeper understanding of the subset groups that have these higher costs should be investigated by using qualitative measures. The data matched up for the groups based on age and sex, but according to the report, it does not give sufficient evidence of why these costs are so much more higher, as well as leaving out some variables that may contribute to that answer. The authors of this study performed quantitative analysis on the data as there were pre-determined categories from an existing data set with specific variables. Some of the pros for the authors using the quantitative analysis approach for this particular study are: • They have a wealth of existing numerical data to search, and quantitative research is information derived from numbers, and the data is objective. • The data in quantitative research can be analyzed in a quick and simple way. By using statistical models and charts, this makes the data easier to view and read. • There are descriptive and inferential statistics and the process is structured. Some of the cons of using only quantitative methods: • The data is much generalized, meaning that in order to understand why the healthcare costs of......

Words: 546 - Pages: 3

Premium Essay

Accounting: David Miller

...A. Quantitative Techniques with reference to time series analysis in business expansion.  B. Quantitative techniques are mathematical and reproducible. Regression analysis is an example of one such technique. Statistical analysis is also an example of a quantitative technique.  C. Quantitative techniques are applied for business analysis to optimize decision making IE profit maximization and cost minimization). It covers linear programming models and other special algorithms, inventory and production models; decision making process under certainty, uncertainty and risk; decision tree construction and analysis; network models; PERT and CPA business forecasting models; and computer application. Examples of qualitative methods include: * action research aims to contribute both to the practical concerns of people in an immediate problematic situation and to the goals of social science by joint collaboration within a mutually acceptable ethical framework; * case study research - a case study is an empirical enquiry that investigates a contemporary phenomenon within its real-life context; * ethnography- the ethnographer immerses her/himself in the life of people s/he studies and seeks to place the phenomena studied in its social and cultural context. However examples of quantitative methods now well accepted in the social sciences and education include: * surveys; * laboratory experiments; * formal methods such as econometrics: * numerical......

Words: 475 - Pages: 2