Marketing tools, in addition to their role in persuasion and serving as a bridge between production and consumers, reduce prepurchase risks. This role has received less attention in the literature. This review highlights marketing's role in reducing consumers’ purchasing risk. We present our approach, backed up with extensive literature review, beginning with a description of advertising, branding, and pricing that may serve as a signal of a product's quality. We then describe and analyze the role of product demonstrations, free product samples, and money-back guarantees (MBGs), which enable consumers to acquire direct experience before a final decision is made, in reducing risks. We briefly discuss product warranties and their relationship to MBGs. We demonstrate how marketing tools can help reduce the risk associated with the consumption of food products that contain genetically modified organisms, as well as help in marketing of agricultural products that vary in their levels of risk to buyers.
{"title":"Marketing as a Risk Management Mechanism with Applications in Agriculture, Resources, and Food Management","authors":"Amir Heiman, L. Hildebrandt","doi":"10.2139/ssrn.3141831","DOIUrl":"https://doi.org/10.2139/ssrn.3141831","url":null,"abstract":"Marketing tools, in addition to their role in persuasion and serving as a bridge between production and consumers, reduce prepurchase risks. This role has received less attention in the literature. This review highlights marketing's role in reducing consumers’ purchasing risk. We present our approach, backed up with extensive literature review, beginning with a description of advertising, branding, and pricing that may serve as a signal of a product's quality. We then describe and analyze the role of product demonstrations, free product samples, and money-back guarantees (MBGs), which enable consumers to acquire direct experience before a final decision is made, in reducing risks. We briefly discuss product warranties and their relationship to MBGs. We demonstrate how marketing tools can help reduce the risk associated with the consumption of food products that contain genetically modified organisms, as well as help in marketing of agricultural products that vary in their levels of risk to buyers.","PeriodicalId":414091,"journal":{"name":"Innovation & Management Science eJournal","volume":"139 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127486439","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The purpose of this paper is to theorise and develop three dimension (strategic supplier partnership, level of information sharing and postponement) into a Supply Chain Management (SCM) practices (SCMPs) construct and studies its causal relationship with the conceptualised constructs of manufacturing firm’s performance (MFP).
{"title":"The Effects of Supply Chain Management Practices on Manufacturing Firms in Malaysia","authors":"Nur Raudha Salleh","doi":"10.2139/ssrn.3084427","DOIUrl":"https://doi.org/10.2139/ssrn.3084427","url":null,"abstract":"The purpose of this paper is to theorise and develop three dimension (strategic supplier partnership, level of information sharing and postponement) into a Supply Chain Management (SCM) practices (SCMPs) construct and studies its causal relationship with the conceptualised constructs of manufacturing firm’s performance (MFP).","PeriodicalId":414091,"journal":{"name":"Innovation & Management Science eJournal","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122551168","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-01DOI: 10.18052/WWW.SCIPRESS.COM/ILSHS.79.16
Imaneh Khaki, H. E. Khanzadeh, Azam Babaki Rad
This study aimed to investigate the relationship between talent management and the innovative behavior of employees based on the mediating role of organizational learning. This study is a descriptive study, according to the data collection and analysis methods and, it is a survey, according to the implementation. It was conducted during 2015 to 2016 in Mashhad, Iran. Participants were 147 staffs employed in the information technology organization of Mashhad municipality. Data were collected using three valid and reliable questionnaires. Data were analyzed using SPSS software version 19. According to the main hypothesis of the study, there is a significant relationship between talent management and the innovative behavior of employees, and organizational learning mediates the relationship between talent management and the innovative behavior of employees. Also, according to the minor hypothesis, there is a significant relationship between the components of talent management and innovative behavior and the components of organizational learning can mediate the relationship between talent management and innovative behavior. Organizational learning capability has a significant relationship with innovation and innovative behavior and the organizational learning is a way in which educational and training opportunities for employees can be linked to innovative goals.
{"title":"Talent Management and Innovative Behavior Based on the Mediating Role of Organizational Learning","authors":"Imaneh Khaki, H. E. Khanzadeh, Azam Babaki Rad","doi":"10.18052/WWW.SCIPRESS.COM/ILSHS.79.16","DOIUrl":"https://doi.org/10.18052/WWW.SCIPRESS.COM/ILSHS.79.16","url":null,"abstract":"This study aimed to investigate the relationship between talent management and the innovative behavior of employees based on the mediating role of organizational learning. This study is a descriptive study, according to the data collection and analysis methods and, it is a survey, according to the implementation. It was conducted during 2015 to 2016 in Mashhad, Iran. Participants were 147 staffs employed in the information technology organization of Mashhad municipality. Data were collected using three valid and reliable questionnaires. Data were analyzed using SPSS software version 19. According to the main hypothesis of the study, there is a significant relationship between talent management and the innovative behavior of employees, and organizational learning mediates the relationship between talent management and the innovative behavior of employees. Also, according to the minor hypothesis, there is a significant relationship between the components of talent management and innovative behavior and the components of organizational learning can mediate the relationship between talent management and innovative behavior. Organizational learning capability has a significant relationship with innovation and innovative behavior and the organizational learning is a way in which educational and training opportunities for employees can be linked to innovative goals.","PeriodicalId":414091,"journal":{"name":"Innovation & Management Science eJournal","volume":"93 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132392435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We analyze the impact of rising import competition from China on U.S. innovative activities, both at the firm level and at the industry level. Using Compustat firm-level data, we explore how U.S. manufacturing firms respond to Chinese competition by adjusting their R&D expenditures. As import competition is measured for each four-digit SIC industry, we identify both an average effect and a reallocation effect on R&D expenditures. Specifically, import competition induces R&D to be reallocated towards more productive and more profitable firms within each industry, even though firms on average reduce R&D expenditures. When we aggregate the firm-level effects at the four-digit industry level and for the whole manufacturing sector, the reallocation effect is large enough to offset the negative average effect. In addition, our analysis using employment data suggests that rising competition from China in manufacturing has led to reallocation of researchers towards booming service industries, including business and repairs, personal services, and financial services.
{"title":"Does Import Competition Induce R&D Reallocation? Evidence from the U.S.","authors":"Kaiji Gong, Rui Xu","doi":"10.2139/ssrn.3013441","DOIUrl":"https://doi.org/10.2139/ssrn.3013441","url":null,"abstract":"We analyze the impact of rising import competition from China on U.S. innovative activities, both at the firm level and at the industry level. Using Compustat firm-level data, we explore how U.S. manufacturing firms respond to Chinese competition by adjusting their R&D expenditures. As import competition is measured for each four-digit SIC industry, we identify both an average effect and a reallocation effect on R&D expenditures. Specifically, import competition induces R&D to be reallocated towards more productive and more profitable firms within each industry, even though firms on average reduce R&D expenditures. When we aggregate the firm-level effects at the four-digit industry level and for the whole manufacturing sector, the reallocation effect is large enough to offset the negative average effect. In addition, our analysis using employment data suggests that rising competition from China in manufacturing has led to reallocation of researchers towards booming service industries, including business and repairs, personal services, and financial services.","PeriodicalId":414091,"journal":{"name":"Innovation & Management Science eJournal","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130849689","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This case investigates the inventory decisions and delivery optimization of a bottled water supplier. It dissects the key performance indicators of a distributor. The selected KPIs for delivery optimization, inventory management and labor management are optimized using various tools and techniques. The overall finding stretched the possibilities of saving on delivery time and cost followed by huge savings on inventory and warehousing. Slight note to labor utilization has also been touched by key findings from a questionnaire filled by the CEO of Pravy.
{"title":"Optimizing Supply Chain Operations of a Bottled Water Supplier","authors":"F. Khan, D. Hussain, F. Khan, A. Ashraf","doi":"10.2139/SSRN.3025807","DOIUrl":"https://doi.org/10.2139/SSRN.3025807","url":null,"abstract":"This case investigates the inventory decisions and delivery optimization of a bottled water supplier. It dissects the key performance indicators of a distributor. The selected KPIs for delivery optimization, inventory management and labor management are optimized using various tools and techniques. The overall finding stretched the possibilities of saving on delivery time and cost followed by huge savings on inventory and warehousing. Slight note to labor utilization has also been touched by key findings from a questionnaire filled by the CEO of Pravy.","PeriodicalId":414091,"journal":{"name":"Innovation & Management Science eJournal","volume":"69 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131771624","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
To inform product release and distribution strategies, research has analyzed cross-market spillovers in new product adoption. However, models that examine these effects for digital and viral media are still evolving. Given resistance to advertising, firms often seek to promote their own viral content to boost brand awareness. However, a key shortcoming of virality is its ephemeral nature. To gain insight into sustaining virality, we develop a quasi-experimental approach that estimates the backward spillover onto a focal platform by introducing a piece of content onto a new platform. We posit that introducing content to the audience of a new platform can generate word of mouth, which may affect its consumption within an earlier platform. We estimate these spillovers using data on 381 viral videos on 26 platforms (e.g., YouTube, Vimeo) and observe how consumption of videos on an initial “lead” platform is affected by their subsequent introduction onto “lag” platforms. This spillover is estimated as follows: for each multiplatform video, we compare its view growth after being introduced onto a new platform to that of a synthetic control based on similar single-platform videos. Analysis of 275 such spillover scenarios reveals that introducing a video onto a lag platform roughly doubles its subsequent view growth in the lead platform. This positive cross-platform spillover is persistent, bursty, and strongest in the first 42 days. We find that spillover is boosted when the video is consumed more in the lag platform, when the consumption rate peaks earlier in the lag platform, and when the lag platform targets a foreign market. Our findings suggest that firms can sustain the popularity of their viral content by introducing it onto additional platforms (e.g., Vimeo) after posting it on a focal platform (e.g., YouTube). As a result of their posting on the latter platforms, firms can expect subsequent view growth on the focal platform to roughly double. The aforementioned benefits persists for up to five lag platforms. Platforms should also consider that a positive cross-platform spillover may help platforms reinforce each other’s usage, rather than cannibalize each other.
{"title":"Cross-Platform Spillover Effects in Consumption of Viral Content: A Quasi-Experimental Analysis Using Synthetic Controls","authors":"Haris Krijestorac, R. Garg, V. Mahajan","doi":"10.2139/ssrn.3011533","DOIUrl":"https://doi.org/10.2139/ssrn.3011533","url":null,"abstract":"To inform product release and distribution strategies, research has analyzed cross-market spillovers in new product adoption. However, models that examine these effects for digital and viral media are still evolving. Given resistance to advertising, firms often seek to promote their own viral content to boost brand awareness. However, a key shortcoming of virality is its ephemeral nature. To gain insight into sustaining virality, we develop a quasi-experimental approach that estimates the backward spillover onto a focal platform by introducing a piece of content onto a new platform. We posit that introducing content to the audience of a new platform can generate word of mouth, which may affect its consumption within an earlier platform. We estimate these spillovers using data on 381 viral videos on 26 platforms (e.g., YouTube, Vimeo) and observe how consumption of videos on an initial “lead” platform is affected by their subsequent introduction onto “lag” platforms. This spillover is estimated as follows: for each multiplatform video, we compare its view growth after being introduced onto a new platform to that of a synthetic control based on similar single-platform videos. Analysis of 275 such spillover scenarios reveals that introducing a video onto a lag platform roughly doubles its subsequent view growth in the lead platform. This positive cross-platform spillover is persistent, bursty, and strongest in the first 42 days. We find that spillover is boosted when the video is consumed more in the lag platform, when the consumption rate peaks earlier in the lag platform, and when the lag platform targets a foreign market. Our findings suggest that firms can sustain the popularity of their viral content by introducing it onto additional platforms (e.g., Vimeo) after posting it on a focal platform (e.g., YouTube). As a result of their posting on the latter platforms, firms can expect subsequent view growth on the focal platform to roughly double. The aforementioned benefits persists for up to five lag platforms. Platforms should also consider that a positive cross-platform spillover may help platforms reinforce each other’s usage, rather than cannibalize each other.","PeriodicalId":414091,"journal":{"name":"Innovation & Management Science eJournal","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134320909","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
French Abstract: Afin de maintenir leur efficacité managériale, les organisations ont besoin de générer, modifier et gérer leurs employés. Cette étude analyse les impacts des variables croisées entre l’efficacité managériale et les types d'innovation dans les organisations. L'innovation et l’innovativité ont un impact important sur l’efficacité managériale et la compétitivité de l’organisation. Une analyse empirique, basée sur les cartes cognitives, de ces trois concepts est d’une grande importance pour créer un avantage concurrentiel. Pour cette recherche, nous avons collaboré avec 40 acteurs décideurs au sein des organisations. Les résultats de l'étude montrent que les processus d’innovation et d’innovativité sont des variables motrices. Certaines dimensions de l’innovation et de l’innovativité sont aussi des variables relais à l’efficacité managériale bien que certaines de ses dimensions sont qualifiées de variables inertes qui agissent pour activer la compétitivité dans les organisations. English Abstract: To maintain their managerial effectiveness, organizations need to generate, modify and manage their employees. This study analyzes the impacts of cross variables between managerial effectiveness and types of innovation in organizations. Innovation and innovativeness have a significant impact on managerial effectiveness and competitiveness of the firm. An empirical analysis, based on cognitive maps, of these three concepts is of great importance to create a competitive advantage. For this research, we collaborated with 40 decision-makers in the organizations. The results of the study show that the processes of innovation and innovativeness are motor variables. Some dimensions of innovation and innovation are also relays to managerial efficiency, although some of its dimensions are termed inert variables that act to activate competitiveness in organizations.
为了保持管理效率，组织需要产生、修改和管理他们的员工。本研究分析了管理效率和组织创新类型之间的交叉变量的影响。创新和创新精神对组织的管理效率和竞争力有重要影响。基于认知地图对这三个概念的实证分析对于创造竞争优势非常重要。在这项研究中，我们与组织内的40名决策者合作。研究结果表明，创新和创新过程是驱动变量。创新和创新的某些维度也是管理效率的传递变量，尽管它的一些维度被描述为惰性变量，作用于激活组织的竞争力。英语文摘:爱,their管理成效,组织need To,从与经济合作and manage their employees。本研究分析了管理效能与组织创新类型之间交叉变量的影响。创新和创新对企业的管理效率和竞争力有重大影响。= =地理= =根据美国人口普查，这个县的面积为，其中土地面积为，其中土地面积为。在这项研究中，我们与40个组织的决策者合作。研究结果表明，创新和创新的过程是驱动变量。创新和创新的某些方面也传递着管理效率，尽管有些方面被称为惰性变量，从而激活组织的竞争力。
{"title":"Analyse De La Relation Et Des Effets Croisés Entre L’Innovation, L’Innovativité Et L’Efficacité Managériale (Analysis of the Relationship and Cross-Effects between Innovation, Innovativity and Managerial Efficiency)","authors":"Tarek Abdellatif, Y. Slama, Heithem Mokni","doi":"10.2139/ssrn.3010949","DOIUrl":"https://doi.org/10.2139/ssrn.3010949","url":null,"abstract":"<b>French Abstract:</b> Afin de maintenir leur efficacité managériale, les organisations ont besoin de générer, modifier et gérer leurs employés. Cette étude analyse les impacts des variables croisées entre l’efficacité managériale et les types d'innovation dans les organisations. L'innovation et l’innovativité ont un impact important sur l’efficacité managériale et la compétitivité de l’organisation. Une analyse empirique, basée sur les cartes cognitives, de ces trois concepts est d’une grande importance pour créer un avantage concurrentiel. Pour cette recherche, nous avons collaboré avec 40 acteurs décideurs au sein des organisations. Les résultats de l'étude montrent que les processus d’innovation et d’innovativité sont des variables motrices. Certaines dimensions de l’innovation et de l’innovativité sont aussi des variables relais à l’efficacité managériale bien que certaines de ses dimensions sont qualifiées de variables inertes qui agissent pour activer la compétitivité dans les organisations. <b>English Abstract:</b> To maintain their managerial effectiveness, organizations need to generate, modify and manage their employees. This study analyzes the impacts of cross variables between managerial effectiveness and types of innovation in organizations. Innovation and innovativeness have a significant impact on managerial effectiveness and competitiveness of the firm. An empirical analysis, based on cognitive maps, of these three concepts is of great importance to create a competitive advantage. For this research, we collaborated with 40 decision-makers in the organizations. The results of the study show that the processes of innovation and innovativeness are motor variables. Some dimensions of innovation and innovation are also relays to managerial efficiency, although some of its dimensions are termed inert variables that act to activate competitiveness in organizations.","PeriodicalId":414091,"journal":{"name":"Innovation & Management Science eJournal","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126813826","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Paolo Tasca, Thayabaran Thanabalasingham, C. Tessone
A comparative study across the most widely known blockchain technologies is conducted with a bottom-up approach. Blockchains are deconstructed into their building blocks. Each building block is then hierarchically classified into main and subcomponents. Then, varieties of the subcomponents are identified and compared. A taxonomy tree is used to summarise the study and provide a navigation tool across different blockchain architectural configurations.
{"title":"Taxonomy of Blockchain Technologies. Principles of Identification and Classification","authors":"Paolo Tasca, Thayabaran Thanabalasingham, C. Tessone","doi":"10.2139/ssrn.2977811","DOIUrl":"https://doi.org/10.2139/ssrn.2977811","url":null,"abstract":"A comparative study across the most widely known blockchain technologies is conducted with a bottom-up approach. Blockchains are deconstructed into their building blocks. Each building block is then hierarchically classified into main and subcomponents. Then, varieties of the subcomponents are identified and compared. A taxonomy tree is used to summarise the study and provide a navigation tool across different blockchain architectural configurations.","PeriodicalId":414091,"journal":{"name":"Innovation & Management Science eJournal","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134286692","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In the digital economy, influencing and controlling the spread of information is a key concern for firms. One way firms try to achieve this is to target firm communications to consumers who embrace and propagate the spread of new information on emerging and "trending" topics on social media. However, little is known about whether early trend propagators are indeed responsive to firm-sponsored messages. To explore whether early propagators of trending topics respond to advertising messages, we use data from two field tests conducted by a charity and an emerging fashion firm on the microblogging service Twitter. On Twitter, "promoted tweets" allow advertisers to target individuals based on the content of their recent postings. Twitter continuously identifies in real time which topics are newly popular among Twitter users. In the field tests, we collaborated with a charity and a fashion firm to target ads at consumers who embraced a Twitter trend early in its life cycle by posting about it, and compared their behavior to that of consumers who posted about the same topic later on. Throughout both field tests, we consistently find that early propagators of trends are less responsive to advertising than consumers who embrace trends later. Data and the online appendix are available at https://doi.org/10.1287/mksc.2017.1062 .
{"title":"Advertising to Early Trend Propagators: Evidence from Twitter","authors":"Anja Lambrecht, Catherine Tucker, C. Wiertz","doi":"10.2139/ssrn.2419743","DOIUrl":"https://doi.org/10.2139/ssrn.2419743","url":null,"abstract":"In the digital economy, influencing and controlling the spread of information is a key concern for firms. One way firms try to achieve this is to target firm communications to consumers who embrace and propagate the spread of new information on emerging and \"trending\" topics on social media. However, little is known about whether early trend propagators are indeed responsive to firm-sponsored messages. To explore whether early propagators of trending topics respond to advertising messages, we use data from two field tests conducted by a charity and an emerging fashion firm on the microblogging service Twitter. On Twitter, \"promoted tweets\" allow advertisers to target individuals based on the content of their recent postings. Twitter continuously identifies in real time which topics are newly popular among Twitter users. In the field tests, we collaborated with a charity and a fashion firm to target ads at consumers who embraced a Twitter trend early in its life cycle by posting about it, and compared their behavior to that of consumers who posted about the same topic later on. Throughout both field tests, we consistently find that early propagators of trends are less responsive to advertising than consumers who embrace trends later. \u0000 \u0000Data and the online appendix are available at https://doi.org/10.1287/mksc.2017.1062 .","PeriodicalId":414091,"journal":{"name":"Innovation & Management Science eJournal","volume":"105 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114190107","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Developing marketing strategies for a new product or a new target population is challenging, due to the scarcity of relevant historical data. Building on dynamic Bayesian learning, a sequential information collection optimization assists in creating new data points, within a finite number of learning phases. This procedure identifies effective advertisement design elements as well as customer segments that maximize the expected outcome of the final marketing campaign. In this paper, the marketing campaign performance is modeled by a multiplicative advertising exposure model with Poisson jumps. The intensity of the Poisson process is a function of the marketing campaign features. A forward-looking measurement policy is formulated to maximize the expected improvement in the value of information in each learning phase. Solving this information collection optimization is reduced to a mixed-integer second-order cone programming problem. A computationally efficient approach is proposed that consists in solving a sequence of mixed-integer linear optimization problems. The performance of the optimal learning policy over commonly used benchmark policies is evaluated using examples from the property and casualty insurance industry.
{"title":"Information Collection Optimization in Designing Marketing Campaigns for Market Entry","authors":"S. Moazeni, Boris Defourny, M. Wilczak","doi":"10.2139/ssrn.2924803","DOIUrl":"https://doi.org/10.2139/ssrn.2924803","url":null,"abstract":"Developing marketing strategies for a new product or a new target population is challenging, due to the scarcity of relevant historical data. Building on dynamic Bayesian learning, a sequential information collection optimization assists in creating new data points, within a finite number of learning phases. This procedure identifies effective advertisement design elements as well as customer segments that maximize the expected outcome of the final marketing campaign. In this paper, the marketing campaign performance is modeled by a multiplicative advertising exposure model with Poisson jumps. The intensity of the Poisson process is a function of the marketing campaign features. A forward-looking measurement policy is formulated to maximize the expected improvement in the value of information in each learning phase. Solving this information collection optimization is reduced to a mixed-integer second-order cone programming problem. A computationally efficient approach is proposed that consists in solving a sequence of mixed-integer linear optimization problems. The performance of the optimal learning policy over commonly used benchmark policies is evaluated using examples from the property and casualty insurance industry.","PeriodicalId":414091,"journal":{"name":"Innovation & Management Science eJournal","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134038783","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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