Quantitative Marketing and Marketing Management
Adamantios Diamantopoulos, Wolfgang Fritz, Lutz Hildebrandt
A broad overview of quantitative approaches in marketing
Quantitative marketing has been gaining importance during the last decade. This is indicated by the growing number of model- and method-oriented studies published in leading journals as well as by the many successful applications of quantitative approaches in pricing, advertising, new product planning, and market segmentation decisions. In addition, market research has clearly benefitted from applying advanced quantitative models and methods in practice.
Some 60 researchers - among them worldwide leading scholars - offer a broad overview of quantitative approaches in marketing. They not only highlight diverse mathematical and methodological perspectives, but also demonstrate the relevance and practical consequences of applying quantitative approaches to marketing problems.
German Academic Association for Business Research (VHB). In 2011, the European Marketing Academy appointed Udo Wagner to an "EMAC Fellow". 1.4 Contributions to Marketing Science The research achievements of Udo Wagner are reflected in an extensive list of publications with more than 200 titles (see part 5 of this Festschrift). According to the JOURQUAL ranking of the German Academic Association for Business Research (VHB), five of his articles count among the top category A + and further 24
evaluation if it is determined for the same data which were used for estimation. The more complex a model is, the worse this problem typically becomes. Randomly dividing the whole data set into two parts, using one part for estimation and the other part, a holdout sample, for computation of a performance measure provides a possible solution. Unfortunately this procedure leads to results which turn out to be too pessimistic (Ripley 1993). In an alternative method, K-fold cross-validation, the
G./Hermeling, C. (2008): Impact of service station networks on purchase decisions of alternative-fuel vehicles, ZEW Discussion Paper No. 08-088. Mannheim: Zentrum für Europäische Wirtschaftsforschung GmbH.  Adelt, B. (2003): Überlegungen zur Weiterentwicklung der Unternehmensplanung bei Volkswagen. Horváth, P./Gleich, R. (Hrsg.): Neugestaltung der Unternehmensplanung: Innovative Konzepte und erfolgreiche Praxislösungen, pp. 451-467. Stuttgart: Schäffer-Poeschel.  Anon (2010): A portfolio of
Entscheidungsproblem: Erfahrungen und Perspektiven in der deutschen Automobilindustrie. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung (Zfbf), Vol. 42, 3, pp. 263-275.  Eggert, W. (2003): Nachfragemodellierung und -prognose zur Unterstützung der langfristigen Absatzplanung am Beispiel der deutschen Automobilindustrie, Dissertation. Karlsruhe: Universität Karlsruhe.  Eliashberg, J./Lilien, G. L. (2003): Mathematical marketing models: some historical perspectives and future
9 It should be noted however that in this instance of generating ordered coefficients, the HB model coupled with unrestricted dummy coding also suffers from misspecifying the marginal hierarchical prior distributions which are Log-Normal and not Normal. Discussion 189 Attributes with potentially very many levels such as e.g. ‘brand’ in some product categories do not follow a prior ordering for individual respondents. At the