Marketing Strategy and Uncertainty

This first-of-its-kind book develops a rigorous integrated theory of marketing under uncertainty. Cutting across traditional functional boundaries, the author develops behaviorally rich and empirically implementable solutions to fundamental but previously neglected strategic problems including: coordinating marketing policy in a multiperiod framework under uncertainty choosing optimal policy when the data contain measurement error designing new products when consumers have heterogeneous attitudes to risk and uncertain perceptions selecting personnel and measuring performance in multiproduct firms when employees ability is unobservable designing optimal incentive schemes for decentralized multilevel organizations, multidivisional firms, and multinational corporations Marketing Strategy and Uncertainty is unique in content, form, and depth of coverage. It has been successfully class-tested in MBA and Executive Education programs at Columbia University, Rutgers University, and the International University of Japan and is ideal for courses in marketing management, strategy, sales force management, and advertising. The book's integrative approach to strategic decision making will appeal primarily to readers in marketing, but also in economics, finance, organization management, and industrial organization. Because of its unique presentation style, Marketing Strategy and Uncertainty is a must-read for students, executives, and researchers.

Table of Contents:
Harry Markowitz: Foreword Preface 1. Strategic Pricing in a Dynamic Environment 1: Basic Pricing Concepts 2: Market Share and Strategic Pricing 3: Cost Dynamics 4: Demand Dynamics 5: Cost and Demand Dynamics 6: Model Extensions 7: Conluding Remarks Appendix A: Comparison of Strategic and Myopic Pricing Plans in the Presence of Experience Effects Appendix B: Comparison of Strategic and Myopic Pricing Plans in the Presence of Demand Dynamics Appendix C: Comparison of Strategic and Myopic Pricing Plans: Cost Dynamics and Demand Dynamics 2. Pricing Under Undercertainty and Hetereogeneity 1: Pricing Under Uncertainty: Break-even Pricing 2: Pricing Under Uncertainty: Some Refinements 3: Pricing Under Uncertainty: The Multiperiod Case 4: Bundling 5: Pricing Using Coupons: A One-Period Model 6: Pricing Using Coupons: A Multiperiod Model 7: Price Skimming 8: Concluding Remarks 3. Consumer Behavior: A Theoretical Perspective 1: A Lancasterian Model: Homogeneous Perceptions 2: The Lancasterian Model: Some Refinements 3: Prospect Theory and a Hybrid Model of Consumer Behavior 4: The Effect of Uncertainty 5: Concluding Remarks 4. Consumer Behavior: An Empirical Perspective 1: Limited Information 2: Conjoint Analysis: Basic Methodology 3: Conjoint Analysis: A Review and Some Refinements 4: Conjoint Analysis: A Behavioral Perspective 5: The Measurement of Perceptions 6: An Integrated Preference Model 7: Concluding Remarks 5. Channels of Distribution 1: The Manufacturer-Distribution Channel 2: Channel Heterogenity 3: New Product Introduction: A Single-Period Model 4: New Product Introduction: A Multiperiod Model 5: Concluding Remarks 6. Advertising Budgeting in a Competitive and Uncertain Environment 1: Choosing Advertising Budgets Under Certainty 2: Choosing Price and Advertising Under Certainty 3: Choosing Price and Advertising Under Uncertainty: The Single-Period Case 4: Choosing Price and Advertising Under Uncertainty: The Multiperiod Case 5: Choosing Advertising Policy Under Uncertainty: The Multiproduct Case 6: A Duopoly Model of Advertising Under Uncertainty 7: Determining Advertising Productivity: Empirical Issues 8: The Advertising Timing Decision: Pulsing 9: A Multiproduct Advertising Goodwill Model Under Uncertainty 10: Concluding Remarks 7. Media Planning in a Dynamic and Uncertain Environment 1: The Media Message Decision 2: The Media Mix Decision 3: Uncertainty in Advertising Rates 4: Concluding Remarks 8. The Personal Selling Decision in a Dynamic and Uncertain Environment 1: The Certainty Case 2: The Uncertainty Case: Basic Model 3: The Uncertainty Model: Single-Period Extensions 4: The Hierarchy Problem in a Multiproduct Firm 5: Model Extentions: Multiperiod Effects 6: Satisfaction-Based Compensation Contracts 7: Sales Force Selection 8: Sales Force Training 9: The Sales Force Turnover Problem 10: Measuring Ability and Rewarding Performance 11: Model Extensions and Refinements 12: Concluding Remarks 9. Choosing Domestic and International Marketing Strategy in an Uncertain Environment 1: Domestic Marketing Strategy 2: International Marketing Strategy 10. Conclusion

Review :
"Overall, I consider the book to be excellent. It is different, clear, and right on the mark in terms of substance. Jagpal is obviously a clear thinker who is able to treat theoretical material from an experienced perspective; he presents complex material efficiently and understandably and you get the impression that he has tremendous depth behind what he puts on the page. A truly fine book."--David G. Luenberger, Stanford University "The author has done an excellent job of integrating the relevant economic and finance theories into an overall theory of marketing....A major contribution." --Donald Morrison, University of California, Los Angeles "The contents and organization of the text are excellent. The strong emphasis on strategic implications will appeal to managers and MBA students....Jagpal's book makes economic theory a powerful, versatile tool." --Peter Nye University of Washington "This book challenges the executive to be analytical and to make the right decisions for the right reasons....The book will be a critical addition to my business library at home and at work. Any manager who wants to make smart, fact-based decisions will feel the same."--Daniel D. Lynn, Vice President, Marketing Communications and Advertising, Automatic Data Processing, Inc. "Professor Jagpal's pioneering book moves us forward towards a detailed, integrated, theory of the firm."--Harry M. Markowitz, Nobel Laureate "A refreshing approach that reminds us all that marketing is a "market" science. It has at its core a system of differential elasticities which needs to be grasped for a complete understanding."--Vinay Pandit, St. Bona Venture University