Marketing Science answers important research questions in marketing using mathematical modelling. Marketing scientists develop models to both predict and understand customers and their needs, and to help firms optimize their marketing decisions. To build models capable of generating valuable customer and market insights, marketing science frequently combines solid econometric and statistical foundations with theories from different fields, such as marketing, economics, psychology, and sociology. The emphasis on understanding causal mechanisms makes the research field exciting and essentially interdisciplinary.
Research questions studied by marketing scientists include:
• How do consumers form their preferences during product search?
• How do consumers learn about the quality of new products?
• How do consumers search for their preferred product from a set of relevant options?
• How can firms best crowdsource new product ideas from customers or employees?
• How can firms optimize their international launch of new products?
• How can firms optimize their marketing and advertising spending?