Scientific Essay from the year 2015 in the subject Business economics - Operations Research, grade: 74.00/100.00, University of Strathclyde (Strathclyde Business School), course: Foundations of Operational Research and Business Analysis, language: English, abstract: This essay is concerned with a Fuzzy Attractiveness of Market Entry (FAME) model, devel-oped for the Bulgarian winery Vinprom Svishtov (VS). VS had to decide whether to expand two of its wines, a cabernet sauvignon and a chardonnay, into either a regional or a national market (Shipley et al., 2013). The model’s purpose was to assist VS’s management in deciding whether the firm should expand two wines into a regional or a national market. The success of the modelling exercise discussed in this essay can be assessed from two per-spectives. The first perspective relates to the question whether the model generated satisfactory results given the problem VS faced. The second perspective focuses on potential learning process on the part of VS’s management, stimulated through the modelling exercise.

Marketing models is a core component of the marketing discipline. The recent developments in marketing models have been incredibly fast with information technology (e.g., the Internet), online marketing (e-commerce) and customer relationship management (CRM) creating radical changes in the way companies interact with their customers. This has created completely new breeds of marketing models, but major progress has also taken place in existing types of marketing models. The HANDBOOK OF MARKETING DECISION MODELS presents the state of the art in marketing decision models, dealing with new modeling areas such as customer relationship management, customer value and online marketing, but also describes recent developments in other areas. In the category of marketing mix models, the latest models for advertising, sales promotions, sales management, and competition are dealt with. New developments are presented in consumer decision models, models for return on marketing, marketing management support systems, and in special techniques such as time series and neural nets. Not only are the most recent models discussed, but the book also pays attention to the implementation of marketing models in companies and to applications in specific industries.

Excerpt from Marketing Entry Strategy Formulation: A Hierarchical Modeling and Consumer Measurement Approach New product development requires large amounts of money and time and presents major risks of failure. An effective strategy for market entry can increase the likelihood of success and improve the potential payoff by focusing development efforts on attractive market opportunities. This paper describes a system of models and measurements designed co support the formulation of such a strategy. A hierarchical approach to defining the competitive structure of a market is proposed based on Tversky's (1972) theory of choice by elimination of aspects. In our nodal, product attributes, usage situations, or user characteristics can define the competitive structure. Individual probabilities of purchase are estimated by logit procedures, and alternative hierarchies are tested based on their ability to describe choices when consumers are forced to switch from their favorite product. Statistical tests are developed and choices in a laboratory shopping environment arc utilized in a convergent analysis to select the best hierarchical description of the competitive structure. Opportunities for new product entry depend on the vulnerability of each section of the competitive structure and on tho economics of introducing a new product in each. Competitive vulnerability is assessed with perceptual maps, and an order of entry model estimated based on 42 new consumer products Is used to reduce the sales potential of later entrants. Profit potential ii calculated and a tradeoff of risk, return, and investment is conducted to support formulation oi an entry strategy. In an application to Che coffee market a statistically significant and managerially relevant competitive structure is identified. Implications for new product development and research needs are discussed. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Excerpt from Marketing Entry Strategy Formulation: A Hierarchical Modeling and Consumer Measurement Approach Notes: Includes time from completion of testing phase to the beginning of launch. Opportunity identification is an activity assumed to produce at least one market worthy of design effort. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

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