John Philip Jones, bestselling author of What's in a Name? and When Ads Work, has edited an authoritative handbook of research procedures that determine effective advertising. All participants in the advertising process - clients, media and agencies - are fully represented in this volume. Chapter authors reflect a global mix of academic and professional backgrounds and include: Leo Bogart, Andrew Ehrenberg, Simon Broadbent, Herbert Krugman, and the Editor John Philip Jones. Most chapters have been specifically written for this volume and are complemented by a few adaptations of classic articles.

Consumer Preferences as Predictions

Consumer Preferences as Predictions
Consumer preferences as predictions
AlfredPolitzW. EdwardsDeming

If marketing research is to perform a useful function, it must be put finally in the form of predictions for the use of management. The form of the prediction may be, for example, the likely increases or decreases in sales that would result under certain circumstances from this or that change in quality, style, package, color, or price of a particular product, or from some particular method of advertising it. These predictions are to be used by management as aids in coming to a decision concerning the future quality, style, package, color, or price of an article, or the method of advertising it.

Decisions Involve Risks

A decision may turn out to be wrong and lead to losses. ...

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