Bayesian Statistics and Marketing

Fine-tune your marketing research with this cutting-edge statistical toolkit

Bayesian Statistics and Marketing illustrates the potential for applying a Bayesian approach to some of the most challenging and important problems in marketing. Analysing household and consumer data, predicting product performance, and custom-targeting campaigns are only a few of the areas in which Bayesian approaches promise revolutionary results. This book provides a comprehensive, accessible overview of this subject essential for any statistically informed marketing researcher or practitioner.

Economists and other social scientists will find a comprehensive treatment of many Bayesian methods that are central to the problems in social science more generally. This includes a practical approach to computationally challenging problems in random coefficient models, non-parametrics, and the problems of endogeneity.

Readers of the second edition of Bayesian Statistics and Marketing will also find:

• Discussion of Bayesian methods in text analysis and Machine Learning
• Updates throughout reflecting the latest research and applications
• Discussion of modern statistical software, including an introduction to the R package bayesm, which implements all models incorporated here
• Extensive case studies throughout to link theory and practice

Bayesian Statistics and Marketing is ideal for advanced students and researchers in marketing, business, and economics departments, as well as for any statistically savvy marketing practitioner.