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Book Reviews

Book Reviews Journal of Classification 16:307-311 (1999) Sharan Jagpal, Marketing Strategy and Uncertainty, New York: Oxford, 1999, pp. ix + 334. This pioneering and unconventional book develops analytical solutions and empirical (including econometric and psychometric) methods to deal with fundamental but neglected problems in marketing strategy. The central theme of this book is that analytical models must be empiri­ cally implementable and should reflect institutional reality (i.e., the fact that most firms are owned by stockholders and not individuals). Furthermore, to be managerially useful, marketing models must combine both the economic and behavioral paradigms and deal explicitly with the unobservability and heterogeneity of consumer decision processes. Toward this end, the author adopts an unconventional approach and uses both the expected utility model (common in economics) and asset pricing theory (popular in finance) to pro­ vide solutions to fundamental managerial issues which have been neglected by previous research. Following is a partial listing of topics covered: coordinating marketing policy over time in an uncertain environment; making decisions and choosing employment contracts when the measures of ability and performance contain measurement error; estimating unobservable and heterogeneous consumer decision processes; choosing marketing policy and designing optimal con­ tracts in a multilevel organization (e.g., a http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Classification Springer Journals

Book Reviews

Jedidi, Kamel
Journal of Classification , Volume 16 (2) – Feb 28, 2014
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Publisher
Springer Journals
Copyright
Copyright © 1999 by Springer-Verlag New York Inc.
Subject
Statistics; Statistical Theory and Methods; Pattern Recognition; Bioinformatics; Signal, Image and Speech Processing; Psychometrics; Marketing
ISSN
0176-4268
eISSN
1432-1343
DOI
10.1007/s003579900059
Publisher site
See Article on Publisher Site

Abstract

Journal of Classification 16:307-311 (1999) Sharan Jagpal, Marketing Strategy and Uncertainty, New York: Oxford, 1999, pp. ix + 334. This pioneering and unconventional book develops analytical solutions and empirical (including econometric and psychometric) methods to deal with fundamental but neglected problems in marketing strategy. The central theme of this book is that analytical models must be empiri­ cally implementable and should reflect institutional reality (i.e., the fact that most firms are owned by stockholders and not individuals). Furthermore, to be managerially useful, marketing models must combine both the economic and behavioral paradigms and deal explicitly with the unobservability and heterogeneity of consumer decision processes. Toward this end, the author adopts an unconventional approach and uses both the expected utility model (common in economics) and asset pricing theory (popular in finance) to pro­ vide solutions to fundamental managerial issues which have been neglected by previous research. Following is a partial listing of topics covered: coordinating marketing policy over time in an uncertain environment; making decisions and choosing employment contracts when the measures of ability and performance contain measurement error; estimating unobservable and heterogeneous consumer decision processes; choosing marketing policy and designing optimal con­ tracts in a multilevel organization (e.g., a

Journal

Journal of Classification – Springer Journals

Published: Feb 28, 2014

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