Effective Marketing Science Applications: Insights from ISMS-MSI Practice Prize Finalist Papers and Projects

62 Pages Posted: 11 May 2012

See all articles by Gary L. Lilien

Gary L. Lilien

Pennsylvania State University - Institute for the Study of Business Markets

John Roberts

Australian Graduate School of Management; London Business School

Venkatesh Shankar

Texas A&M University - Mays Business School

Date Written: May 2012

Abstract

From 2003 to 2012, the ISMS Practice Prize/Award competition has documented 25 impactful projects, with associated papers appearing in the Marketing Science. This article reviews these papers and projects, examines their influence on the relevant organizations, and provides a perspective on the diffusion and impact of marketing science models within the organizations. We base our analysis on three sources of data — the articles, authors’ responses to a survey, and in-depth interviews with the authors. We draw some conclusions on how marketing science models can create more impact without losing academic rigor, while maintaining strong relevance to practice.

We find that the application and diffusion of marketing science models are not restricted to the well-known choice models, conjoint analysis, mapping, and promotional analysis — there are very effective applications across a wide range of managerial problems using an array of marketing science techniques. There is no one successful approach and, while some factors are correlated with impactful marketing science models, there are a number of pathways by which a project can add value to its client organization. Simpler, easier-to-use models that offer robust and improved results can have stronger impact than academically sophisticated models. Organizational buy-in is critical and can be achieved through high-level champions, in-house presentations and dialogs, doing pilot assignments, involving multi department personnel, and speaking the same language as the influential executives. And we find that intermediaries often, but not always, play a key role in the transportability and diffusion of models across organizations.

While these applications are impressive and reflect profitable academic-partnerships, changes in the knowledge base and reward systems for academics, intermediaries and practitioners are required for marketing science approaches to realize their potential impact on a much larger scale than the highly selective sample that we have been able to analyze.

Keywords: marketing models, decision-making, marketing analytics, implementation

Suggested Citation

Lilien, Gary L. and Roberts, John Heath and Shankar, Venkatesh, Effective Marketing Science Applications: Insights from ISMS-MSI Practice Prize Finalist Papers and Projects (May 2012). Mays Business School Research Paper No. 2012-41. Available at SSRN: https://ssrn.com/abstract=2056342 or http://dx.doi.org/10.2139/ssrn.2056342

Gary L. Lilien (Contact Author)

Pennsylvania State University - Institute for the Study of Business Markets ( email )

University Park, PA 16802-3306
United States
814-863-2782 (Phone)
814-863-0413 (Fax)

HOME PAGE: http://www.smeal.psu.edu/isbm/about/people/LILIEN.

John Heath Roberts

Australian Graduate School of Management ( email )

Gate 11, Botany Street, Randwick
Sydney, NSW 2052
Australia
+61 2 9931 9255 (Phone)
+61 2 9662 7621 (Fax)

London Business School ( email )

Sussex Place
Regent's Park
London, NW1 4SA
United Kingdom
442070008621 (Phone)
442070008601 (Fax)

HOME PAGE: http://www.london.edu/facultyandresearch/faculty/search.do?uid=jhroberts

Venkatesh Shankar

Texas A&M University - Mays Business School ( email )

Wehner 401Q, MS 4353
College Station, TX 77843-4218
United States
979-845-3246 (Phone)

HOME PAGE: http://www.venkyshankar.com

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