BayesianStatisticsandMarketing

ThepastdecadehasseenadramaticincreaseintheuseofBayesianmethodsinmarketingdue,inpart,tocomputationalandmodellingbreakthroughs,makingitsimplementationidealformanymarketingproblems.Bayesiananalysescannowbeconductedoverawiderangeofmarketingproblems,fromnewproductintroductiontopricing,andwithawidevarietyofdifferentdatasources.BayesianStatisticsandMarketingdescribesthebasicadvantagesoftheBayesianapproach,detailingthenatureofthecomputationalrevolution.Examplescontainedincludehouseholdandconsumerpaneldataonproductpurchasesandsurveydata,demandmodelsbasedonmicro-economictheoryandrandomeffectmodelsusedtopooldataamongrespondents.ThebookalsodiscussesthetheoryandpracticaluseofMCMCmethods.Writtenbytheleadingexpertsinthefield,thisuniquebook:PresentsaunifiedtreatmentofBayesianmethodsinmarketing,withcommonnotationandalgorithmsforestimatingthemodels.Providesaself-containedintroductiontoBayesianmethods.Includescasestudiesdrawnfromtheauthors’recentresearchtoillustratehowBayesianmethodscanbeextendedtoapplytomanyimportantmarketingproblems.IsaccompaniedbyanRpackage,bayesm,whichimplementsallofthemodelsandmethodsinthebookandincludesmanydatasets.Inadditionthebook’swebsitehostsdatasetsandRcodeforthecasestudies.BayesianStatisticsandMarketingprovidesaplatformforresearchersinmarketingtoanalysetheirdatawithstate-of-the-artmethodsanddevelopnewmodelsofconsumerbehaviour.Itprovidesaunifiedreferenceforcutting-edgemarketingresearchers,aswellasaninvaluableguidetothisgrowingareaforbothgraduatestudentsandprofessors,alike.