An Econometric Approach To A Marketing Decision Model

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An Econometric Approach to a Marketing Decision Model

Author : Ronald Edward Frank
Publisher : MIT Press (MA)
ISBN 13 : 9780262060370
Total Pages : 224 pages
Book Rating : 4.0/5 (63 download)

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Book Synopsis An Econometric Approach to a Marketing Decision Model by : Ronald Edward Frank

Download or read book An Econometric Approach to a Marketing Decision Model written by Ronald Edward Frank and published by MIT Press (MA). This book was released on 1971 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes the creation of a simulation model that is designed to serve as an artificial test market. The market is sufficiently realistic to permit it to be used for experimenting with a wide range of alternative marketing programs for a manufacturer of a branded, frequently purchased food product. The simulator includes characterizations by brand and size of: (1) the rates of retailer promotions (such as retail price discounts, newspaper advertising, displays, signs and banners, special offers, and premiums) as a function of the promotional allowances offered by competing manufacturers; (2) the response of costumers in terms of sales volume to the aforementioned retailer's promotional activities; and (3) the transformation of these volume movement figures into estimates of manufacturer profitability. The simulation model is designed to take advantage of modern time-sharing computation facilities and permit virtually instantaneous assessment of alternatives, and to encourage the combining of executive judgments on current market conditions and probable retailer responses with historical data. In order to develop the component of the stimulator which relates retailer promotional activities to consumer volume movement, econometric methods are used to analyze a remarkably complete set of data in such a way that the reader may follow the author's thought processes as they work through complex quantitative techniques. The econometric model that they develop is a multiple-equation model. The use of this type of model is relatively new in marketing, although econometricians have been familiar with these techniques for a number of years. The present study develops and discusses the special statistical methods required to estimate the parameters of such a model and postulates a specific model linking the demand for a given brand and size to the promotional activities of all the brand-size combinations present in the marketplace for the product in question.

Handbook of Marketing Decision Models

Author : Berend Wierenga
Publisher : Springer
ISBN 13 : 3319569414
Total Pages : 598 pages
Book Rating : 4.3/5 (195 download)

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Book Synopsis Handbook of Marketing Decision Models by : Berend Wierenga

Download or read book Handbook of Marketing Decision Models written by Berend Wierenga and published by Springer. This book was released on 2017-07-12 with total page 598 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Second Edition of this book presents the state of the art in this important field. Marketing decision models constitute a core component of the marketing discipline and the area is changing rapidly, not only due to fundamental advances in methodology and model building, but also because of the recent developments in information technology, the Internet and social media. This Handbook contains eighteen chapters that cover the most recent developments of marketing decision models in different domains of marketing. Compared to the previous edition, thirteen chapters are entirely new, while the remaining chapters represent complete updates and extensions of the previous edition. This new edition of the Handbook has chapters on models for substantive marketing problems, such as customer relationship management, customer loyalty management, website design, Internet advertising, social media, and social networks. In addition, it contains chapters on recent methodological developments that are gaining popularity in the area of marketing decision models, such as structural modeling, learning dynamics, choice modeling, eye-tracking and measurement. The introductory chapter discusses the main developments of the last decade and discusses perspectives for future developments.

Marketing Decision Making

Author : Gary L. Lilien
Publisher : HarperCollins Publishers
ISBN 13 :
Total Pages : 904 pages
Book Rating : 4.4/5 (91 download)

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Book Synopsis Marketing Decision Making by : Gary L. Lilien

Download or read book Marketing Decision Making written by Gary L. Lilien and published by HarperCollins Publishers. This book was released on 1983 with total page 904 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Market Response Models: Econometric and Time Series Analysis

Author : Dominique M. Hanssens
Publisher : Springer Science & Business Media
ISBN 13 : 9400910738
Total Pages : 389 pages
Book Rating : 4.4/5 (9 download)

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Book Synopsis Market Response Models: Econometric and Time Series Analysis by : Dominique M. Hanssens

Download or read book Market Response Models: Econometric and Time Series Analysis written by Dominique M. Hanssens and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reports over a decade's worth of research on the development of empirical response models that have important uses for generating marketing knowledge and improving marketing decisions. Some of its contributions to marketing are the following: 1. It integrates state-of-the art technical material with discussions of its relevance to management. 2. It provides continuity to a research stream over 20 years old. 3. It illustrates how marketing generalizations are the basis of marketing theory and marketing knowledge. 4. It shows how the research can be applied to marketing planning and forecasting. 5. It presents original research in marketing. The book addresses both marketing researchers and marketing managers. This can be done because empirical decision models are helpful in practice and are also based on theories of response. Econometric and time series analysis (ETS) is one of the few areas in marketing where there is little, if any, conflict between the academic sphere and the world of professional practice. Market Response Models is a sequel to Marketing Models and Econometric Research, published in 1976. It is rare for a research-oriented book in market ing to be updated or to have a sequel. Unlike many other methodologies, ETS research in marketing has stood the test of time. It remains the main method for discovering relations among marketing variables.

Marketing Decision Models

Author : Randall L. Schultz
Publisher : North-Holland
ISBN 13 :
Total Pages : 318 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Marketing Decision Models by : Randall L. Schultz

Download or read book Marketing Decision Models written by Randall L. Schultz and published by North-Holland. This book was released on 1981 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes bibliographical references and index.

Modeling Markets

Author : Peter S.H. Leeflang
Publisher : Springer
ISBN 13 : 1493920863
Total Pages : 417 pages
Book Rating : 4.4/5 (939 download)

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Book Synopsis Modeling Markets by : Peter S.H. Leeflang

Download or read book Modeling Markets written by Peter S.H. Leeflang and published by Springer. This book was released on 2014-11-12 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about how models can be developed to represent demand and supply on markets, where the emphasis is on demand models. Its primary focus is on models that can be used by managers to support marketing decisions. Modeling Markets presents a comprehensive overview of the tools and methodologies that managers can use in decision making. It has long been known that even simple models outperform judgments in predicting outcomes in a wide variety of contexts. More complex models potentially provide insights about structural relations not available from casual observations. In this book, the authors present a wealth of insights developed at the forefront of the field, covering all key aspects of specification, estimation, validation and use of models. The most current insights and innovations in quantitative marketing are presented, including in-depth discussion of Bayesian estimation methods. Throughout the book, the authors provide examples and illustrations. This book will be of interest to researchers, analysts, managers and students who want to understand, develop or use models of marketing phenomena.

Building Models for Marketing Decisions

Author : Peter S.H. Leeflang
Publisher : Springer Science & Business Media
ISBN 13 : 146154050X
Total Pages : 642 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Building Models for Marketing Decisions by : Peter S.H. Leeflang

Download or read book Building Models for Marketing Decisions written by Peter S.H. Leeflang and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 642 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about marketing models and the process of model building. Our primary focus is on models that can be used by managers to support marketing decisions. It has long been known that simple models usually outperform judgments in predicting outcomes in a wide variety of contexts. For example, models of judgments tend to provide better forecasts of the outcomes than the judgments themselves (because the model eliminates the noise in judgments). And since judgments never fully reflect the complexities of the many forces that influence outcomes, it is easy to see why models of actual outcomes should be very attractive to (marketing) decision makers. Thus, appropriately constructed models can provide insights about structural relations between marketing variables. Since models explicate the relations, both the process of model building and the model that ultimately results can improve the quality of marketing decisions. Managers often use rules of thumb for decisions. For example, a brand manager will have defined a specific set of alternative brands as the competitive set within a product category. Usually this set is based on perceived similarities in brand characteristics, advertising messages, etc. If a new marketing initiative occurs for one of the other brands, the brand manager will have a strong inclination to react. The reaction is partly based on the manager's desire to maintain some competitive parity in the mar keting variables.

Market Response Models

Author : Dominique M. Hanssens
Publisher : Springer Science & Business Media
ISBN 13 : 0306475944
Total Pages : 507 pages
Book Rating : 4.3/5 (64 download)

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Book Synopsis Market Response Models by : Dominique M. Hanssens

Download or read book Market Response Models written by Dominique M. Hanssens and published by Springer Science & Business Media. This book was released on 2005-12-19 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: From 1976 to the beginning of the millennium—covering the quarter-century life span of this book and its predecessor—something remarkable has happened to market response research: it has become practice. Academics who teach in professional fields, like we do, dream of such things. Imagine the satisfaction of knowing that your work has been incorporated into the decision-making routine of brand managers, that category management relies on techniques you developed, that marketing management believes in something you struggled to establish in their minds. It’s not just us that we are talking about. This pride must be shared by all of the researchers who pioneered the simple concept that the determinants of sales could be found if someone just looked for them. Of course, economists had always studied demand. But the project of extending demand analysis would fall to marketing researchers, now called marketing scientists for good reason, who saw that in reality the marketing mix was more than price; it was advertising, sales force effort, distribution, promotion, and every other decision variable that potentially affected sales. The bibliography of this book supports the notion that the academic research in marketing led the way. The journey was difficult, sometimes halting, but ultimately market response research advanced and then insinuated itself into the fabric of modern management.

Marketing Decision Making: a Model Building Approach

Author : Philip Kotler
Publisher : Holt McDougal
ISBN 13 :
Total Pages : 744 pages
Book Rating : 4.3/5 (512 download)

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Book Synopsis Marketing Decision Making: a Model Building Approach by : Philip Kotler

Download or read book Marketing Decision Making: a Model Building Approach written by Philip Kotler and published by Holt McDougal. This book was released on 1971 with total page 744 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Econometric Models in Marketing

Author : P.H. Franses
Publisher : Elsevier
ISBN 13 : 0762308575
Total Pages : 362 pages
Book Rating : 4.7/5 (623 download)

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Book Synopsis Econometric Models in Marketing by : P.H. Franses

Download or read book Econometric Models in Marketing written by P.H. Franses and published by Elsevier. This book was released on 2002-02-28 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 16th Edition of "Advances in Econometrics", we present twelve papers discussing the current interface between Marketing and Econometrics. The authors are leading scholars in the fields and introduce the latest models for analysing marketing data. The papers are representative of the types of problems and methods that are used within the field of marketing. Marketing focuses on the interaction between the firm and the consumer. Economics encompasses this interaction as well as many others. Economics, along with psychology and sociology, provides a theoretical foundation for marketing. Given the applied nature of marketing research, measurement and quantitative issues arise frequently. Quantitative marketing tends to rely heavily upon statistics and econometrics. However, quantitative marketing can place a different emphasis upon the problem than econometrics, even when using the same techniques. A basic difference between quantitative marketing research and econometrics tends to be the pragmatism that is found in many marketing studies. Another important motivating factor in marketing research is the type of data that is available. Applied econometrics tends to rely heavily on data collected by governmental organizations. In contrast, marketing often uses data collected by private firms or marketing research firms. Observational and survey data are quite similar to those used in econometrics. However, the remaining types of data, panel and transactional, can look quite different from what may be familiar to econometricians. The automation and computerization of much of the sales transaction process leaves an audit trail that results in huge quantities of data. A popular area of study is the use of scanner data collected at the checkout stand using bar code readers. Methods that work for small data sets may not work well in these larger data sets. In addition, new sources of data, such as clickstream data from a web site, will offer new challenges. This volume addresses these and related issues.

Advanced Methods for Modeling Markets

Author : Peter S. H. Leeflang
Publisher : Springer
ISBN 13 : 3319534696
Total Pages : 733 pages
Book Rating : 4.3/5 (195 download)

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Book Synopsis Advanced Methods for Modeling Markets by : Peter S. H. Leeflang

Download or read book Advanced Methods for Modeling Markets written by Peter S. H. Leeflang and published by Springer. This book was released on 2017-08-29 with total page 733 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents advanced techniques to modeling markets, with a wide spectrum of topics, including advanced individual demand models, time series analysis, state space models, spatial models, structural models, mediation, models that specify competition and diffusion models. It is intended as a follow-on and companion to Modeling Markets (2015), in which the authors presented the basics of modeling markets along the classical steps of the model building process: specification, data collection, estimation, validation and implementation. This volume builds on the concepts presented in Modeling Markets with an emphasis on advanced methods that are used to specify, estimate and validate marketing models, including structural equation models, partial least squares, mixture models, and hidden Markov models, as well as generalized methods of moments, Bayesian analysis, non/semi-parametric estimation and endogeneity issues. Specific attention is given to big data. The market environment is changing rapidly and constantly. Models that provide information about the sensitivity of market behavior to marketing activities such as advertising, pricing, promotions and distribution are now routinely used by managers for the identification of changes in marketing programs that can improve brand performance. In today’s environment of information overload, the challenge is to make sense of the data that is being provided globally, in real time, from thousands of sources. Although marketing models are now widely accepted, the quality of the marketing decisions is critically dependent upon the quality of the models on which those decisions are based. This volume provides an authoritative and comprehensive review, with each chapter including: · an introduction to the method/methodology · a numerical example/application in marketing · references to other marketing applications · suggestions about software. Featuring contributions from top authors in the field, this volume will explore current and future aspects of modeling markets, providing relevant and timely research and techniques to scientists, researchers, students, academics and practitioners in marketing, management and economics.

Handbook of Marketing Decision Models

Author : Berend Wierenga
Publisher : Springer Science & Business Media
ISBN 13 : 0387782125
Total Pages : 621 pages
Book Rating : 4.3/5 (877 download)

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Book Synopsis Handbook of Marketing Decision Models by : Berend Wierenga

Download or read book Handbook of Marketing Decision Models written by Berend Wierenga and published by Springer Science & Business Media. This book was released on 2008-09-11 with total page 621 pages. Available in PDF, EPUB and Kindle. Book excerpt: Marketing models is a core component of the marketing discipline. The recent developments in marketing models have been incredibly fast with information technology (e.g., the Internet), online marketing (e-commerce) and customer relationship management (CRM) creating radical changes in the way companies interact with their customers. This has created completely new breeds of marketing models, but major progress has also taken place in existing types of marketing models. The HANDBOOK OF MARKETING DECISION MODELS presents the state of the art in marketing decision models, dealing with new modeling areas such as customer relationship management, customer value and online marketing, but also describes recent developments in other areas. In the category of marketing mix models, the latest models for advertising, sales promotions, sales management, and competition are dealt with. New developments are presented in consumer decision models, models for return on marketing, marketing management support systems, and in special techniques such as time series and neural nets. Not only are the most recent models discussed, but the book also pays attention to the implementation of marketing models in companies and to applications in specific industries.

Data, Expert Knowledge and Decisions

Author : Wolfgang A. Gaul
Publisher : Springer Science & Business Media
ISBN 13 : 3642734898
Total Pages : 379 pages
Book Rating : 4.6/5 (427 download)

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Book Synopsis Data, Expert Knowledge and Decisions by : Wolfgang A. Gaul

Download or read book Data, Expert Knowledge and Decisions written by Wolfgang A. Gaul and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cross-disciplinary research on how computer-assisted decision making can be supported by sophisticated data analysis techniques and recent developments in knowledge-based systems research are described in this volume, with emphasis on marketing applications. Aspects dealt with include market-share analysis (spreadsheet based), media planning, stochastic market modelling, marketing data analysis and new product introduction management (all knowledge-based, partly using PROLOG). These contributions emphasize links between decision support, expert knowledge research and marketing. Other application areas are debt and credit management and personnel disposition (KEE based), portfolio management (PROLOG based) and vehicle scheduling. Concrete interconnections between data analysis and marketing can be seen in the contributions on classification and unfolding of market data, market segmentation by forced classification, conjoint analysis applications, ideal point product mapping, MDS in telecommunications pricing and multi-mode marketing data evaluations.

The Handbook of Marketing Research

Author : Rajiv Grover
Publisher : SAGE Publications
ISBN 13 : 1452261539
Total Pages : 721 pages
Book Rating : 4.4/5 (522 download)

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Book Synopsis The Handbook of Marketing Research by : Rajiv Grover

Download or read book The Handbook of Marketing Research written by Rajiv Grover and published by SAGE Publications. This book was released on 2006-06-23 with total page 721 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Marketing Research: Uses, Misuses, and Future Advances comprehensively explores the approaches for delivering market insights for fact-based decision making in a market-oriented firm. Divided into four parts, the Handbook addresses (1) the different nuances of delivering insights; (2) quantitative, qualitative, and online data gathering techniques; (3) basic and advanced data analysis methods; and (4) the substantial marketing issues that clients are interested in resolving through marketing research.

Multiple Criteria Decision Making Kyoto 1975

Author : M. Zeleny
Publisher : Springer Science & Business Media
ISBN 13 : 3642454860
Total Pages : 368 pages
Book Rating : 4.6/5 (424 download)

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Book Synopsis Multiple Criteria Decision Making Kyoto 1975 by : M. Zeleny

Download or read book Multiple Criteria Decision Making Kyoto 1975 written by M. Zeleny and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of articles aspires to be a permanent record of ideas which are likely to become important determinants in the future of management sciences. These papers were initially presented at the first session on Multiple Criteria Decision Making QMCDM) organized under the auspices of The Institute of Management Sciences (TIMS). All works were prepared by leading spokesmen for three generations of OR/MS change agents. Special mention must be made of the dynamic role which Professor Martin K. Starr played in organizing the program of the TIMS XXII International Meeting. In May, 1973, Professor Starr, who was President of TIMS and Program Chairman of the Kyoto conference, requested me to chair the MCDM session. Throughout the long period of formative inter change, Dr. Starr demonstrated his full and continuing support of both the event and the MCDM field. On July 25, 1975, surrounded by the rocky gardens of the Kyoto International Conference Hall (KICH), located on the shore of Takaraga Ike, we engaged in a day-long discussion of MCDM. Our "talk together in Kyoto" was a professional experience of the highest intensity for participants, speakers and audience alike.

Expert Systems for Scanner Data Environments

Author : John M. McCann
Publisher : Springer Science & Business Media
ISBN 13 : 9401139237
Total Pages : 226 pages
Book Rating : 4.4/5 (11 download)

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Book Synopsis Expert Systems for Scanner Data Environments by : John M. McCann

Download or read book Expert Systems for Scanner Data Environments written by John M. McCann and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about the role of expert systems in marketing, particularly in the consumer goods industry. Section I describes the changing nature of consumer marketing and presents the rationale and need for expert systems. The remainder of the book combines a tutorial on expert systems with a series of expert system prototypes. The tutorial material is presented in three places. First, section II is devoted to introducing expert systems in general. Chapter 3 provides a general introduction to the topic, which is continued in chapter 4 where a small expert system (the Promotion Advisor) is used to illustrate the important features of a backward-chaining, rule-based system. The promotion theme is extended in chapter 5 where a larger system is presented. The material in all three of these chapters was designed as an introduction and tutorial on the most common technology for building applied expert systems: the backward-chaining, rule-based inference engine. Tutorial material is also contained in the body of the chapters that describe the prototypes. This material is usually in the form of sample rules and a description of the process for applying the rules. The third location of the expert system material is in chapters that follow discussions of the prototypes. Chapter 7 is a technical chapter on the coupling of expert systems to traditional systems.

Quantitative Modelling in Marketing and Management

Author : Luiz Moutinho
Publisher : World Scientific
ISBN 13 : 9814696366
Total Pages : 568 pages
Book Rating : 4.8/5 (146 download)

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Book Synopsis Quantitative Modelling in Marketing and Management by : Luiz Moutinho

Download or read book Quantitative Modelling in Marketing and Management written by Luiz Moutinho and published by World Scientific. This book was released on 2015-11-06 with total page 568 pages. Available in PDF, EPUB and Kindle. Book excerpt: The field of marketing and management has undergone immense changes over the past decade. These dynamic changes are driving an increasing need for data analysis using quantitative modelling. Problem solving using the quantitative approach and other models has always been a hot topic in the fields of marketing and management. Quantitative modelling seems admirably suited to help managers in their strategic decision making on operations management issues. In social sciences, quantitative research refers to the systematic empirical investigation of social phenomena via statistical, mathematical or computational techniques. The first edition of "Quantitative Modelling in Marketing and Management" focused on the description and applications of many quantitative modelling approaches applied to marketing and management. The topics ranged from fuzzy logic and logical discriminant models to growth models and k-clique models. The second edition follows the thread of the first one by covering a myriad of techniques and applications in the areas of statistical, computer, mathematical as well as other novel nomothetic methods. It greatly reinforces the areas of computer, mathematical and other modeling tools that are designed to bring a level of awareness and knowledge among academics and researchers in marketing and management, so that there is an increase in the application of these new approaches that will be embedded in future scholarly output. Contents:Statistical Modelling:A Review of the Major Multidimensional Scaling Models for the Analysis of Preference/Dominance Data in Marketing (Wayne S DeSarbo and Sunghoon Kim)Role of Structural Equation Modelling in Theory Testing and Development (Parikshat S Manhas, Ajay K Manrai, Lalita A Manrai and Ramjit)Partial Least Squares Path Modelling in Marketing and Management Research: An Annotated Application (Joaquín Aldás-Manzano)Statistical Model Selection (Graeme D Hutcheson)Computer Modelling:Artificial Neural Networks and Structural Equation Modelling: An Empirical Comparison to Evaluate Business Customer Loyalty (Arnaldo Coelho, Luiz Moutinho, Graeme D Hutcheson and Maria Manuela Santos Silva)The Application of NN to Management Problems (Arnaldo Coelho, Luiz Moutinho, Graeme D Hutcheson and Maria Manuela Santos Silva)Meta-heuristics in Marketing (Stephen Hurley and Luiz Moutinho)Non-parametric Test with Fuzzy Data and Its Applications in the Performance Evaluation of Customer Capital (Yu-Lan Lee, Ming-leih Wu and Chunti Su)Too Much ADO About Nothing? Fuzzy Measurement of Job Stress for School Leaders (Berlin Wu and Mei Fen Liu)Interactive Virtual Platform for Shopping Furniture Based on Unity 3D (Yingwan Wu, Simon Fong, Suash Deb and Thomas Hanne)Mathematical and Other Models:Qualitative Comparison Analysis: An Example Analysis of Clinical Directorates and Resource Management (Malcolm J Beynon, Aoife McDermott and Mary A Keating)Growth Models (Mladen Sokele)Bayesian Prediction with Linear Dynamic Model: Principle and Application (Yun Li, Luiz Moutinho, Kwaku K Opong and Yang Pang)PROMETHEE: Technical Details and Developments, and its Role in Performance Management (Malcolm J Beynon and Harry Barton)Data Mining Process Models: A Roadmap for Knowledge Discovery (Armando B Mendes, Luís Cavique and Jorge M A Santos)Metaheuristics in Logistics (Thomas Hanne, Suash Deb and Simon Fong)A Model for Optimizing Earned Attention in Social Media Based on a Memetic Algorithm (Pedro Godinho, Luiz Moutinho and Manuela Silva)Stream-based Classification for Social Network Recommendation Systems (Yan Zhuang and Hang Yang)Clique Communities in Social Networks (Luís Cavique, Armando B Mendes and Jorge M A Santos)Measuring the Effects of Marketing Actions: The Role of Matching Methodologies (Iola Pinto and Margarida GMS Cardoso)Mathematical Programming Applied to Benchmarking in Economics and Management (Jorge Santos, Armando B Mendes, Luís Cavique and Magdalena Kapelko)Conclusion Readership: Undergraduates and postgraduates of management and business administration, academic researchers marketing professionals, financial professionals and business consultants. Key Features:Contains statistical (more commonly known), computer, mathematical, and other modelling approaches that provide a framework to analyse the issues, tools and examples associated with each techniqueDemonstrates the applicability of quantitative methods and highlights the potential utilisation of each methodology by using the research (quantitative) modelling approachKeywords:Quantitative Analysis;Modeling;Marketing Management;Statistical Modelling;Computer Modelling;Memetic Algorithm;Structural Equation Modelling;Artificial Neural Networks