Online consumer behavior modeling

How to attract and win over the consumer in the highly competitive Internet marketplace? What would the best marketer of the world do? What would Sun Tzu do?  What would Alexander the Great do?  Well, the answer is not so simple, since online consumer behavior has become an emerging research area as well as a key factor for many companies. Digital ecosystems are evolving so rapidly and it seems that even the greatest strategists might face difficulties in consumer behavior modeling and optimizing consumer interactivity with the brand. But how do we, marketers, approach the construct "online consumer behavior"...

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New Brand Assets: Where are we going?

"We show that easily accessible digital records of behavior, Facebook Likes, can be used to automatically and accurately predict a range of highly sensitive personal attributes including: sexual orientation, ethnicity, religious and political views, personality traits, intelligence, happiness, use of addictive substances, parental separation, age, and gender. The analysis presented is based on a dataset of over 58,000 volunteers who provided their Facebook Likes, detailed demographic profiles, and the results of several psychometric tests." Kosinski et al. 2013 (The Psychometrics Centre, University of Cambridge) Like. Comment. Engage. Sponsored...

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5+1 Latest Viral Commercials

The latest February commercials that went viral! 5. M&M'S Superbowl Ad 4. Jägermeister UK 3. Jerry Ricecake Superbowl Ad 2. U2 "Invisible" & Bank of America 1. Wonderful Pistachios Superbowl Ad Lucky Star: SOS Children Villages ...

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Target markets and ANN

Once we, marketers, have determined our business products or services, we must accurately identify our target markets. The target market is the actual customer group, or audience, in which our business will attempt to sell its products and services. Target marketing tailors a marketing mix for one or more segments identified by market segmentation and usually contrasts with mass marketing, depending on the industry, the competition, the marketing budget of the business, NGO vs non-NGO, etcetera. Many techniques have been used in order to select the target markets, such as statistical regression (Bult&Wansbeek, 1995), neural...

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Econometric models of advertising

Advertising is a powerful form of marketing communication used to "encourage, persuade, or even manipulate an audience to take or continue to take some action". The final desired result is to drive consumer behavior with respect to a commercial offering, although political and ideological advertising is also common. The marketing mix has been the key concept to advertising. The marketing mix refers to four variables (the 4 P's) that a marketing manager can control in order to influence a brand’s sales or market share. The basic question that managers face nowadays is, what level...

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