Question

market response models are intended to help scholars and managers understand how consumers individually and collectively respond to marketing activities and how competitors interact

Answer 1

Market response models are intended to help scholars and managers understand how consumers individually and collectively respond to marketing activities, and how competitors interact. Appropriately estimated effects constitute a basis for improved decision making in marketing. We review the demand and supply of market response models and we highlight areas of future growth. We discuss two characteristics that favour model use in practice, viz. the supply of standardized models and the availability of empirical generalizations.