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Marketing Research Seminars

Details of our upcoming seminars are posted here:


Date: Friday, September 8, 2017

Speaker: Joonhwi Joo, University of Chicago
Topic: Buying a Larger Package with Quantity Surcharge: Information Friction or Preference Heterogeneity?
Time: 10:00AM - 11:30AM
Place: Henry Angus 966

Abstract:  Buying a Larger Package with Quantity SurchargAbstract Sales of larger packages with quantity surcharges occur often in the consumer packaged goods industry. This phenomenon poses a challenge to rationalizing consumer behaviors because the same amount of an identical product can be bought at a cheaper price. I present evidence that consumers lose a considerable amount of money by purchasing quantity surcharged larger packages. I develop and estimate a structural econometric model that combines (i) rationally inattentive consumers with (ii) the address model of consumer demand in the product characteristics space. By simulating consumer demand using model parameter estimates, I decompose the contribution of information friction and preference heterogeneity over package sizes on sales of larger packages with quantity surcharges. The estimated model predicts that only 40% of sales of larger packages with quantity surcharges can be attributed to information friction. I suggest revenue-improving, nonlinear pricing schemes that preserve consumer welfare at the current level. Under the pricing schemes, retailers can raise their revenues by up to 18%, and corresponding sales of larger packages with quantity surcharge triples.e:Information Friction or Preference Heterogeneity?


Date: Friday, September 15, 2017

Speaker: Xinyu Cao, MIT Sloan School of Mangement
Topic: TBA
Time: 10:00AM - 11:30AM
Place: Henry Angus 966

Abstract:  TBA


Date: Friday, September 29, 2017

Speaker: Ryan Dew, Columbia Business School
Topic: Bayesian Nonparametric Customer Base Analysis with Model-based Visualizations
Time: 10:00AM - 11:30AM
Place: Henry Angus 966

Abstract:  Marketing managers are responsible for understanding and predicting customer purchasing activity, a task that is complicated by a lack of knowledge of all of the calendar time events that influence purchase timing. Yet, isolating calendar time variability from the natural ebb and flow of purchasing is important, both for accurately assessing the influence of calendar time shocks to the spending process, and for uncovering the customer-level patterns of purchasing that robustly predict future spending. A comprehensive understanding of purchasing dynamics therefore requires a model that flexibly integrates both known and unknown calendar time determinants of purchasing with individual-level predictors such as interpurchase time, customer lifetime, and number of past purchases. In this paper, we develop a Bayesian nonparametric framework based on Gaussian process priors, which integrates these two sets of predictors by modeling both through latent functions that jointly determine purchase propensity. The estimates of these latent functions yield a visual representation of purchasing dynamics, which we call the model-based dashboard, that provides a nuanced decomposition of spending patterns. We show the utility of this framework through an application to purchasing in free-to-play mobile video games. Moreover, we show that in forecasting future spending, our model outperforms existing benchmarks.


Date: Friday, October 6, 2017

Speaker: Audrey Fradkin, MIT Sloan School of Mangement
Topic: TBA
Time: 10:00AM - 11:30AM
Place: Henry Angus 966

Abstract:  TBA


Date: Friday, October 13, 2017

Speaker: Shervin Shahrokhi-Tehrani, Rotman School of Mangement, University of Toronto
Topic: TBA
Time: 10:00AM - 11:30AM
Place: Henry Angus 966

Abstract:  TBA