The research at the Chair of Marketing is best described as empirical and quantitative research. The teaching relates theoretical research to practical application.
Today, marketing is part of a complex environment. Internationalization, modern channels of communication and distribution and a rapid increase in the data volume are only some of the relevant aspects for marketing managers. Methods applied by marketing managers in the past like “rules of thumb” or “instincts” are since bound to fail.
Main research areas are:
- Explanation and forecasting of consumer behaviour using panel data
- Modelling heterogeneity using the Finite-Mixture and Hierarchical-Bayes approaches
- Allocation of catalogues in direct marketin
- Capturing consumers’ preferences using Conjoint-Analysis
- Analysing the effects of fractional prices and price bundling
Our marketing courses teach how to scientifically solve practical problems and cases within marketing. To achieve this, both approved theories and empirical tools are part of the tuition. Consequently, they are applied to extend the knowledge about consumers, markets and competition. Exercise and tutorial hours assist students in the practical application of the courses’ topics. The methods and theories introduced in the courses are then tested and applied in areas like market research working with real datasets and statistical software analysis. Additionally, we use the marketing-simulation software ‘Markstrat’. The software enables the students to virtually test, apply and practise their knowledge to a set of choices and instruments within marketing.