Hierarchical marketing mix models with sign constraints.
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ABSTRACT:
SUBMITTER: Chen H
PROVIDER: S-EPMC9041956 | biostudies-literature | 2021
REPOSITORIES: biostudies-literature
Publications
Hierarchical marketing mix models with sign constraints.
Chen Hao H Zhang Minguang M Han Lanshan L Lim Alvin A
Journal of applied statistics 20210629 13-15
Marketing mix models (MMMs) are statistical models for measuring the effectiveness of various marketing activities such as promotion, media advertisement, etc. In this research, we propose a comprehensive marketing mix model that captures the hierarchical structure and the carryover, shape and scale effects of certain marketing activities, as well as sign restrictions on certain coefficients that are consistent with common business sense. In contrast to commonly adopted approaches in practice, w ...[more]
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