The field of marketing science has evolved significantly in the last 70 years. Throughout its rich history, developments in this field have always been anchored on marketing phenomena that drew on economics, statistics, operations research, and related disciplines. This book reviews the accomplishments of notable marketing scientists in several research areas. It emphasizes both the role and the importance that pioneers in marketing science have had in the rapid development of this field and honors those contributions.This second edition of the book offers updates of the former chapters and six new chapters on emerging areas of marketing science including machine learning, field experimentation methods, and internet marketing. Combined with older areas of research like endogeneity, services, and market segmentation, this book provides a road map for the development of 22 areas of marketing science, which not only is useful from a historical perspective but also identifies important gaps in the literature which can provide an impetus for future research. As such, it provides an important resource for the main consumers of the academic marketing research literature: doctoral students, faculty, and marketing science practitioners in consulting firms and companies.

Database marketing is at the crossroads of technology, business strategy, and customer relationship management. Enabled by sophisticated information and communication systems, todaya (TM)s organizations have the capacity to analyze customer data to inform and enhance every facet of the enterprisea "from branding and promotion campaigns to supply chain management to employee training to new product development. Based on decades of collective research, teaching, and application in the field, the authors present the most comprehensive treatment to date of database marketing, integrating theory and practice. Presenting rigorous models, methodologies, and techniques, and illustrating them through dozens of examples, the authors cover the full spectrum of principles and topics related to database marketing. The first part of the book describes the contemporary context of database marketing and its impact on business performance. Parts 2-4 present database marketing tools, including how to collect the data and perform analysis. Chapters 5-7 focus on the key concept of lifetime value of the customer (LTV); chapters 8-10 focus on the basic tasks of compiling data, field testing, and predictive modeling; and chapters 11-19 cover the statistical methods used primarily in predictive modeling. Parts 5 and 6 focus on specific problems addressed by database marketing. They largely draw on the tools described in Parts 2-4. Part 5 covers customer management activities, including acquiring customers (Chapter 20), cross- and up-selling (Chapter 21), frequency reward programs (Chapter 22), Customer Tier Programs (Chapter 23), Churn management (Chapter 24), multi-channel customer management (Chapter 25), and acquisition and retention management (Chapter 26). Part 6 focuses on the marketing mix, particularly communications (Chapters 27 and 28) and pricing (Chapter 29) issues. The result is a comprehensive treatment of the field of database marketing, including strategic issues, tools, and problem-solving, that will serve as an essential resource for both professionals and academics in marketing and related areas.

This is an excellent in-depth overview of both well-known and very recent topics in customer management models. It is an absolute must for marketers who want to enrich their knowledge on customer analytics.

-Peter C. Verhoef, Professor of Marketing, Faculty of Economics and Business, University of Groningen

"A marvelous combination of relevance and sophisticated yet understandable analytical material. It should be a standard reference in the area for many years."

-Don Lehmann, George E. Warren Professor of Business, Columbia Business School

"The title tells a lot about the book's approach-though the cover reads "database," the content is mostly about customers and that's where the real-world action is. Most enjoyable is the comprehensive story - in case after case - which clearly explains what the analysis and concepts really mean. This is an essential read for those interested in database marketing, customer relationship management and customer optimization."

-Richard Hochhauser, President and CEO, Harte-Hanks, Inc.

The field of marketing science has a rich history of modeling marketing phenomena using the disciplines of economics, statistics, operations research, and other related fields. Since it is roughly 50 years from its origins, The History of Marketing Science is a timely review of the accomplishments of marketing scientists in a number of research areas.Different research areas of marketing science, such as Pricing, Internet Marketing, Diffusion Models, and Advertising, are treated to a highly readable and easy-to-digest historical analysis by the contributing authors. Each chapter provides a chronological timeline of key historical developments in the area of marketing science covered. Readers of other disciplinary backgrounds outside of economics, statistics, and operations research will be more than able to appreciate the development of marketing science as a field of research and its pioneers through the book.

The field of marketing science has a rich history of modeling marketing phenomena using the disciplines of economics, statistics, operations research, and other related fields. Since it is roughly 50 years from its origins, The History of Marketing Science is a timely review of the accomplishments of marketing scientists in a number of research areas.Different research areas of marketing science, such as Pricing, Internet Marketing, Diffusion Models, and Advertising, are treated to a highly readable and easy-to-digest historical analysis by the contributing authors. Each chapter provides a chronological timeline of key historical developments in the area of marketing science covered. Readers of other disciplinary backgrounds outside of economics, statistics, and operations research will be more than able to appreciate the development of marketing science as a field of research and its pioneers through the book.

Database marketing is at the crossroads of technology, business strategy, and customer relationship management. Enabled by sophisticated information and communication systems, today's organizations have the capacity to analyze customer data to inform and enhance every facet of the enterprise-from branding and promotion campaigns to supply chain management to employee training to new product development. Based on decades of collective research, teaching, and application in the field, the authors present the most comprehensive treatment to date of database marketing, integrating theory and practice. Presenting rigorous models, methodologies, and techniques (including data collection, field testing, and predictive modeling), and illustrating them through dozens of examples, the authors cover the full spectrum of principles and topics related to database marketing.

"This is an excellent in-depth overview of both well-known and very recent topics in customer management models. It is an absolute must for marketers who want to enrich their knowledge on customer analytics." (Peter C. Verhoef, Professor of Marketing, Faculty of Economics and Business, University of Groningen)

"A marvelous combination of relevance and sophisticated yet understandable analytical material. It should be a standard reference in the area for many years." (Don Lehmann, George E. Warren Professor of Business, Columbia Business School)

"The title tells a lot about the book's approach-though the cover reads, "database," the content is mostly about customers and that's where the real-world action is. Most enjoyable is the comprehensive story - in case after case - which clearly explains what the analysis and concepts really mean. This is an essential read for those interested in database marketing, customer relationship management and customer optimization." (Richard Hochhauser, President and CEO, Harte-Hanks, Inc.)

"In this tour de force of careful scholarship, the authors canvass the ever expanding literature on database marketing. This book will become an invaluable reference or text for anyone practicing, researching, teaching or studying the subject." (Edward C. Malthouse, Theodore R. and Annie Laurie Sills Associate Professor of Integrated Marketing Communications, Northwestern University)

Firms spend a significant part of their marketing budgets on sales promotions. Since the impact of promotions on sales is usually immediate and strong, promotions are attractive to results-oriented managers seeking to increase sales in the short term. There are few, if any, other marketing instruments that are equally effective. Promotions also affect sales after the immediate sales bump. In other words, they have dynamic effects on consumer purchase behavior outside the period of the promotional offer. Promotion Dynamics presents a comprehensive overview of the various dynamic effects of promotions. Since the literature on dynamic promotion effects is vast and quite scattered, and there have been so many researchers who have worked in this field across decades using very wide-ranging terminologies, methodologies, and data, there is a need to catalog the current state of affairs. To keep the discussion centered on a common theme, the authors focus in particular on the dynamic effects of price promotions (rather than non-price promotions) offered to consumers (rather than to the trade or to sales force). Promotion Dynamics has two target audiences: The first is marketing students and marketing professionals seeking insights into the dynamic effects of promotions. For this audience, the dynamic effects are illustrated with several graphs that show what has been found in the literature and indicate what managers can do with these findings. The second audience is academic researchers new to the promotions area who are interested in studying dynamic promotion effects. This audience will benefit not only from model equations and the literature summary but also will derive inspiration from suggestions for future research.