The author explains how decision theory can be applied to the design and evaluation of advertising experiments and discusses its application to marketing problems.
Get full access to this article
View all access options for this article.
References
1.
AckoffR. L. and EmshoffJ. R. (1975), “Advertising Research at Anheuser-Busch, Inc. (1963–1968),” Sloan Management Review (Winter).
2.
BanksS. (1965), Experimentation in Marketing. New York: McGraw-Hill, Inc.
3.
BassF. M. (1963), “Marketing Research Expenditures: A Decision Model,” Journal of Business (January), 77–90.
4.
BlattbergR. (1976), “A Decision Theory Approach for Determining Sample Sizes and Evaluating Results in Advertising Experiments,” working paper, University of Chicago, July.
5.
GreenP. E. (1963), “Bayesian Decision Theory in Pricing Strategy,” Journal of Marketing (January), 5–14.
6.
HaysW. L. and WinklerR. L. (1971), Statistics, Probability, Inference and Decision. New York: Holt, Rinehart, and Winston, Inc.
7.
HogarthRobin M. (1973), “Cognitive Processes and the Assessment of Subjective Probability Institutions,” INSEAD Research Paper Series, No. 97, October.
8.
JolsonM. A. and RossowG. L. (1971), “The Delphi Process in Marketing Decision Making,” Journal of Marketing Research, 8 (November), 443–8.
9.
McGuireT. W. (1972), “Measuring and Testing Advertising Effectiveness with Split-Cable T.V. Panel Data,” Proceedings of the American Statistical Association (Summer).
10.
RaiffaH. and SchlaiferR. (1961), Applied Statistical Decision Theory. Cambridge, Massachusetts: The MIT Press.
11.
RobertsH. V. (1963), “Bayesian Statistics in Marketing,” Journal of Marketing (January), 1–4.
12.
SchlaiferR. (1961), Introduction to Statistics for Business Decisions. New York: McGraw-Hill Book Company.
13.
von Staël HolsteinC.–A. S. (1970), Assessment and Evaluation of Subjective Probability Distributions. Stockholm, Sweden: Economic Research Institute.
14.
WinklerR. L. (1972), Introduction to Bayesian Inference and Decision. New York: Holt, Rinehart and Winston.
15.
WinklerR. L. (1967), “The Assessment of Prior Distributions in Bayesian Analysis,” Journal of the American Statistical Society (September), 776–800.