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Practice paper

Conceptual reasons beyond technology for the delayed progress and innovation in marketing science

Rafael Alcaraz
Applied Marketing Analytics: The Peer-Reviewed Journal, 1 (1), 21-31 (2014)
https://doi.org/10.69554/IQQC2781

Abstract

In general, much of the traditional marketing science practice prior to the 20th century (and perhaps even throughout) remained hidebound by rules of thumb and lack of information, perhaps because of a lack of technology that enables the diffusion and sharing of information across geographies, people and disciplines. This has been true across general market and culturally specifi c research. Technological advancements have made possible the broader sharing of information, and increased computational power has made possible its measurement. Yet the expected changes in marketing science applications have not been seen empirically. Some of those transformations should already have taken place. That would, however, require organisations to remain open minded and not risk averse (or at least risk neutral), as many of the rewards of advanced analytics may not be obvious in the short term, especially as new investments to build the capabilities have to be made up front — this is a chicken and egg problem. The author of this paper has identifi ed three syndromes as the culprits of delayed progress and innovation in marketing science: syndication, academic and practitioner syndromes. Most of the shortcomings have been due to the self-imposed simplicity of the marketplace (especially in CPG) by addressing only the demand side, often overlooking the supply chain side.

Keywords: marketing science; risk; marketing mix; trade; supply chain; technology

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Author's Biography

Rafael Alcaraz is the VP of Global Advanced Analytics, HR and Insight Driven Supply Chain Analytics at Hershey. Previously he led Hershey’s Digital Media, and Strategic Foresight practices. Rafael also leads the Global company’s ROI, ROO, and ROR accountability efforts to improve the efficiency and effectiveness of the marketing and sales spending budgets. He also leads the Global Pricing and Retail Forecast Applications and is an internal analytical consultant across research, category management, marketing, finance, and sales divisions. Rafael has worked as a consultant and on the client side for over twenty years across multiple industries, working to provide strategic and tactical solutions to marketing problems such as big data, CRM, MMM, ROI performance and understanding consumer’s choice and brand equity. One of his most recent achievements has been the development of an actionable analytical construct that enables the ROI measurement of Digital, Traditional Media, Pricing and Promotions.

Citation

Alcaraz, Rafael (2014, October 27). Conceptual reasons beyond technology for the delayed progress and innovation in marketing science. In the Applied Marketing Analytics: The Peer-Reviewed Journal, Volume 1, Issue 1. https://doi.org/10.69554/IQQC2781.

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cover image, Applied Marketing Analytics: The Peer-Reviewed Journal
Applied Marketing Analytics: The Peer-Reviewed Journal
Volume 1 / Issue 1
© Henry Stewart
Publications LLP

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