Recovering Hidden Buyer-Seller Relationship States to Measure the Return on Marketing Investment in Business-to- Business Markets.

• Autores: ANITA LUO, V. Kumar
• Localización: Journal of marketing research, ISSN 0022-2437, Vol. 50, Nº 1, 2013, págs. 143-160
• Idioma: inglés
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• Resumen

  • For two reasons, marketers face significant challenges in measuring return on marketing investment in business-to-business (B2B) markets. First, buyers often have irregular purchase patterns, as the authors observe in the high-tech industry. Second, marketing efforts take considerable time to build a relationship with a customer. The authors attempt to precisely recover hidden buyer-seller relationship states to capture the effect of marketing contacts in B2B markets. The authors build a comprehensive hierarchical Bayesian bivariate Tobit hidden Markov model to assess the return on marketing in B2B markets. They use a recursive computing method--a forward-backward Gibbs sampler method--to retrieve the relationship states. The results suggest that marketing contacts have a heterogeneous long- and short-term impact on customers' purchasing behavior through changes in the buyer-seller relationship states. This study provides practical value to business marketers to measure the return on marketing investment in buyer-seller relationships.