Customer Reviews

Title Market Response Models: Econometric and Time Series Analysis (International Series in Quantitative Marketing, Volume 12 ; 2nd Edition)

5 star:		(2)
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3 star:		(1)
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Great reference for building market models. A lot of good examples. Real world case studies. Easy to understand math formulas. Technical - but good!

This is a very good book primarily because it is the only book I am aware of that attempts a logical and exhaustive review of techniques used in developing market response models. However, like all other existing published material on the topic, it does little to fill the literature void from a practitioner's point of view. While some guidelines are indeed provided on building market response models, the book is mostly a review of the extant academic literature in the field. Examples of model specification and model results are few and far between. Part of the reason is that most academic literature in the field is devoid of implementation details that makes replicating the models very difficult if not impossible. Sadly, the dire need for a practitioner friendly book on market response models still exists. Overall, I would recommend buying the book because, despite the shortcomings I just mentioned, it is still the best material in the field out there.

The text provides a valuable and seemingly complete review of existing model response theory, methods, and practices. Borrowing from marketing and other disciplines and papers, authors present a seminal compendium of market response models into one reference source. Some readers may need to review references and supporting statistics and model texts to fully understand and appreciate the complex models. The text is well organized and exceedingly well written, something that must be herald and sincerely appreciated by readers of this high quality technical text. In summary: "job well done"!