Term
| What is marketing engineering? |
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Definition
| the systematic translation of data and knowledge into tools used for decision support |
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Term
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Definition
| a stylized representation of reality that is easier to deal with and explore for a specific purpose than reality |
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Term
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Definition
verbal
box and arrow
mathematical
graphical
spreadsheets |
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Term
| Definition of market response model |
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Definition
| a model relating a series of marketing tools to purchasing behavior measures such as sales, market share, and brand choice in a regression or logit model framework |
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Term
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Definition
selling effort
advertising spending
promotional spending |
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Term
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Definition
sales
share
profit
awareness |
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Term
| Aggregate response models |
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Definition
| analyze market response at the level of entire marketplace |
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Term
| Individual response models |
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Definition
| analyze market response at individual level |
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Term
| Regression variables/parameters/calibration |
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Definition
dependent variable- y
independent variable- x
parameter- b0, b1
calibration- calculations |
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