The paper traces the history of marketing from the days of Adam Smith and Milton Friedman who thought that trade and public good was “fundamentally subversive”, to the present day, when effective marketing is expected to incorporate a strong sense of ethics, values and responsibility. The...

We need a proper market model free of rigid mathematics. The best we can do is a truthful approximation to reality that coarsely identifies key elements, reflecting freedom of human thought and behavior. We then consider modern problems

Firms develop products by manipulating the attributes of offerings, and consumers derive utility from the benefits that the attributes afford. While the field of marketing has long been aware of the distinction between attributes and benefits, it has not developed methods for understanding how...

Choice-constrained conjoint analysis (CCCA) is a new method for metric conjoint analysis studies. It computes part-worth utility functions that account for “revealed preference” — those products a respondent actually selects in an independent choice situation. CCCA uses an iterative...

The quantity of any good demanded by consumers is dependent on the attributes and benefits of an offering, the rate at which marginal utility of the offering decreases, and the availability of substitutes. Traditional conjoint models focus on attributes and benefits, but have not incorporated...

Vor dem Hintergrund tiefgreifender gesellschaftlicher und wirtschaftlicher Veränderungsprozesse ergeben sich zunehmend Herausforderungen für die Unternehmens- und Markenführung. Dabei bestimmen zwei grundlegende Werte die Diskussion und eröffnen ein Spannungsfeld: Individualisierung -...