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PDF: Applying Quantitative Marketing Techniques to the Internet

Download 41 times Source: www.andrew.cmu.edu // Topic: E-Commerce File Size: 104.78 kb // Total of Page: 32 Page(s) Last download by maharaj Last download on: 3 months ago Share this info: Sample of page (click to enlarge) Short Desciption: Internet marketing problems using quantitative models. Practitioners can apply and ... knowledge about quantitative modeling to Internet marketing problems. ... Content Inside: Applying Quantitative Marketing Techniques to the Internet by Alan L. Montgomery Carnegie Mellon University Graduate School of Industrial Administration 5000 Forbes Ave., Posner Hall 255A Pittsburgh, PA 15213-3890 email: alan.montgomery@cmu.edu July 2000 Copyright © 2000 by Alan Montgomery, All rights reserved Abstract: Quantitative models have proved valuable in predicting consumer behavior in the offline world. These same techniques can be adapted to predict online actions. The use of diffusion models provides a firm foundation to implement and forecast viral marketing strategies. Choice models can predict purchases at online stores and shopbots. Hierarchical Bayesian models provide a framework to implement versioning and price segmentation strategies. Bayesian updating is a natural tool for profiling users with clickstream data. I illustrate these four modeling techniques and discuss their potential for solving Internet marketing problems. Keywords: Choice Models, Clickstream Data, Hierarchical Bayesian Models, Internet Marketing, Versioning, Viral Marketing, World Wide Web The novelty of the Internet has led many to