IDEAS home Printed from https://ideas.repec.org/a/inm/orinte/v31y2001i3_supplementps166-s183.html
   My bibliography  Save this article

A Marketing-Decision-Support Model for Evaluating and Selecting Concepts for New Products

Author

Listed:
  • Dennis Gensch

    (University of Wisconsin-Milwaukee, School of Business Administration, 3202 North Maryland Avenue, Milwaukee, Wisconsin 53211-3164)

Abstract

For a major manufacturer of heating and cooling systems for large buildings, under increasing pressure to produce new product components, I developed a marketing-decision-support model of its process for selecting and developing new products that was comprehensive, objective, and dynamic. This approach is particularly suited for firms that feel the timing (introduction date) of new products significantly affects their sales potential. The firm has relied on this model and its expansions for over 25 years. Marketing-decision-support systems generally utilize a technical structure for dealing with a complex real-world problem. The technical structure is generally provided by a skilled modeler, the reality by experienced line managers dealing with the problem area. This interaction is a critical element in determining the success of real-world marketing-decision-support projects. The modeler must make sure the line managers feel intellectual ownership of the support system.

Suggested Citation

  • Dennis Gensch, 2001. "A Marketing-Decision-Support Model for Evaluating and Selecting Concepts for New Products," Interfaces, INFORMS, vol. 31(3_supplem), pages 166-183, June.
    • Handle: RePEc:inm:orinte:v:31:y:2001:i:3_supplement:p:s166-s183
    DOI: 10.1287/inte.31.3s.166.9684
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/inte.31.3s.166.9684
    Download Restriction: no
    File URL: https://libkey.io/10.1287/inte.31.3s.166.9684?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Sidney W. Hess, 1993. "Swinging on the Branch of a Tree: Project Selection Applications," Interfaces, INFORMS, vol. 23(6), pages 5-12, December.
    2. Berend Wierenga & Gerrit H. Van Bruggen & Richard Staelin, 1999. "The Success of Marketing Management Support Systems," Marketing Science, INFORMS, vol. 18(3), pages 196-207.
    3. John D. C. Little, 1970. "Models and Managers: The Concept of a Decision Calculus," Management Science, INFORMS, vol. 16(8), pages 466-485, April.
    4. Hustad, Thomas P. & Mitchell, Ted J., 1982. "Creative market planning in a partisan environment," Business Horizons, Elsevier, vol. 25(2), pages 58-65.
    5. Srikant Datar & Clark Jordan & Sunder Kekre & Surendra Rajiv & Kannan Srinivasan, 1997. "New Product Development Structures and Time-to-Market," Management Science, INFORMS, vol. 43(4), pages 452-464, April.
    6. Pepall, Lynne, 1990. "Market Demand and Product Clustering," Economic Journal, Royal Economic Society, vol. 100(399), pages 195-205, March.
    7. Jay W. Forrester, 1968. "Industrial Dynamics--After the First Decade," Management Science, INFORMS, vol. 14(7), pages 398-415, March.
    8. Barry L. Bayus, 1993. "High-Definition Television: Assessing Demand Forecasts for a Next Generation Consumer Durable," Management Science, INFORMS, vol. 39(11), pages 1319-1333, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Steven M. Shugan, 2004. "Editorial: Consulting, Research, and Consulting Research," Marketing Science, INFORMS, vol. 23(2), pages 173-179.
    2. Ozer, Muammer, 2005. "Factors which influence decision making in new product evaluation," European Journal of Operational Research, Elsevier, vol. 163(3), pages 784-801, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Suresh Divakar & Brian T. Ratchford & Venkatesh Shankar, 2005. "Practice Prize Article—: A Multichannel, Multiregion Sales Forecasting Model and Decision Support System for Consumer Packaged Goods," Marketing Science, INFORMS, vol. 24(3), pages 334-350, July.
    2. van Bruggen, G.H. & Wierenga, B., 2005. "When are CRM Systems Successful? The Perspective of the User and of the Organization," ERIM Report Series Research in Management ERS-2005-048-MKT, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    3. Lilien, Gary L. & Rangaswamy, Arvind & van Bruggen, Gerrit H. & Wierenga, Berend, 2002. "Bridging the marketing theory-practice gap with marketing engineering," Journal of Business Research, Elsevier, vol. 55(2), pages 111-121, February.
    4. Scott A. Shane & Karl T. Ulrich, 2004. "50th Anniversary Article: Technological Innovation, Product Development, and Entrepreneurship in Management Science," Management Science, INFORMS, vol. 50(2), pages 133-144, February.
    5. John D. C. Little, 2004. "Comments on ÜModels and Managers: The Concept of a Decision CalculusÝ," Management Science, INFORMS, vol. 50(12_supple), pages 1854-1860, December.
    6. Gilvan C. Souza & Barry L. Bayus & Harvey M. Wagner, 2004. "New-Product Strategy and Industry Clockspeed," Management Science, INFORMS, vol. 50(4), pages 537-549, April.
    7. Jehoshua Eliashberg & Sanjeev Swami & Charles B. Weinberg & Berend Wierenga, 2001. "Implementing and Evaluating SilverScreener: A Marketing Management Support System for Movie Exhibitors," Interfaces, INFORMS, vol. 31(3_supplem), pages 108-127, June.
    8. Gary L. Lilien & John H. Roberts & Venkatesh Shankar, 2013. "Effective Marketing Science Applications: Insights from the ISMS-MSI Practice Prize Finalist Papers and Projects," Marketing Science, INFORMS, vol. 32(2), pages 229-245, March.
    9. Leeflang, Peter, 2011. "Paving the way for “distinguished marketing”," International Journal of Research in Marketing, Elsevier, vol. 28(2), pages 76-88.
    10. Sachin Gupta & Dipak C. Jain & Mohanbir S. Sawhney, 1999. "Modeling the Evolution of Markets with Indirect Network Externalities: An Application to Digital Television," Marketing Science, INFORMS, vol. 18(3), pages 396-416.
    11. Wierenga, Berend, 2011. "Managerial decision making in marketing: The next research frontier," International Journal of Research in Marketing, Elsevier, vol. 28(2), pages 89-101.
    12. McCown, R. L., 2002. "Changing systems for supporting farmers' decisions: problems, paradigms, and prospects," Agricultural Systems, Elsevier, vol. 74(1), pages 179-220, October.
    13. Zhong, Tao & Young, Rhonda, 2010. "Multiple Choice Knapsack Problem: Example of planning choice in transportation," Evaluation and Program Planning, Elsevier, vol. 33(2), pages 128-137, May.
    14. Borgonovo, E., 2010. "Sensitivity analysis with finite changes: An application to modified EOQ models," European Journal of Operational Research, Elsevier, vol. 200(1), pages 127-138, January.
    15. Wilhelm, Wilbert E. & Xu, Kaihong, 2002. "Prescribing product upgrades, prices and production levels over time in a stochastic environment," European Journal of Operational Research, Elsevier, vol. 138(3), pages 601-621, May.
    16. Masechaba Nthunya & Nien-Tsu Tuan & Corrinne Shaw & Ian Jay, 2017. "A Systemic Exploration of Lesotho’s Basic Education through Interactive Management," Systemic Practice and Action Research, Springer, vol. 30(3), pages 257-276, June.
    17. Wiesel, Thorsten & Skiera, Bernd & Villanueva, Julian, 2011. "Customer Lifetime Value and Customer Equity Models Using Company-reported Summary Data," Journal of Interactive Marketing, Elsevier, vol. 25(1), pages 20-22.
    18. Marić, Josip & Opazo-Basáez, Marco & Vlačić, Božidar & Dabić, Marina, 2023. "Innovation management of three-dimensional printing (3DP) technology: Disclosing insights from existing literature and determining future research streams," Technological Forecasting and Social Change, Elsevier, vol. 193(C).
    19. Sahar AlMashaqbeh & Jose Eduardo Munive-Hernandez, 2023. "Risk Analysis under a Circular Economy Context Using a Systems Thinking Approach," Sustainability, MDPI, vol. 15(5), pages 1-17, February.
    20. Stefano Denicolai & Antonella Zucchella & Federico Moretti, 2018. "Not So Similar After All: Exploring The Diversity Of Strategic Orientations For Innovation," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 22(04), pages 1-33, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:orinte:v:31:y:2001:i:3_supplement:p:s166-s183. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.