Word-of-Mouth, i.e. informal conversations and recommendations of people about products and services, has a powerful impact on customer decision-making. This study analyzes the fundamentals of this phenomenon in order to provide a better understanding of how Word-of-Mouth works and how it can be...

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We analyze how market-level characteristics affect the marketing-sales relationship within a departmentalized firm. We consider a firm where the sales department sets the price while the marketing department decides about investments into brand-building. We show that if the sales department's...