Pricing is one of the most difficult decisions marketers make and the one with the most direct and immediate impact on the firm's financial position. This toolkit will introduce the fundamental terminology and calculations associated with pricing and profitability analysis. Users will learn how...

Customers are increasingly being viewed as assets that bring value to the firm. Customer lifetime value is a metric which allows managers to understand the overall value of their customer base and relate it to three customer strategies firms employ: asset acquisition - attracting new customers...

Companies spend billions of dollars every year on marketing because it is essential to organic growth. Given these large investments, marketing managers have the responsibility to optimally allocate resources and to demonstrate that their investments generate appropriate returns for the firm. In...

This paper establishes the following: Random Utility Models (RUMs) that assume consistent preferences result in inconsistent and therefore irrational choice behavior. Paradoxically, it is possible to create RUMs that result in consistent choice behavior, but these models assume inconsistent...