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Prize-winning budgeting model aims for more effective marketing spending
Date:6/18/2010

The 2009-2010 INFORMS Society for Marketing Science/Marketing Science Institute (ISMS-MSI) Practice Prize was presented today to professors at the University of Passau and the University at Kiel for research that supported Bayer Healthcare AG in their marketing investment planning for the primary care business of the company's pharmaceutical product portfolio in five European markets. The prize-winning budgeting model aims for more effective marketing spending.

The prize was awarded to Marc Fischer of the University of Passau, along with Snke Albers at the Christian-Albrechts-University, Kiel, Nils Wagner at the University of Passau und Monika Frie at Bayer Healthcare for outstanding development and implementation of marketing science concepts and methods. The paper is entitled, "Dynamic Marketing Budget Allocation across Countries, Products, and Marketing Activities."

The ceremony took place at the MARITIM Hotel & Convention Center in Cologne, Germany. The 32nd INFORMS Marketing Science Conference, hosted by the Marketing Area of the University of Cologne, began on June 17 and continues through June 19 at the MARITIM Hotel & Convention Center.

The winning research provides an innovative solution to what is called "the dynamic marketing allocation budget problem" for multi-product, multi-country firms like Bayer HealthCare AG. The decision-support model allowed Bayer to optimize annual marketing budgets across selected country-product-activity cluster level in a Microsoft Excel-supported environment. The model takes into account marketing dynamics and a product's growth potential, as well as tradeoffs of marketing effectiveness and profit contribution.

The other finalists in the competition were:

  • John Roberts, Australian National University and London Business School; Ken Roberts and Alan Simpson, both of Forethought Research; and Peter Danaher, Melbourne Business School, for "Jetstar: Driving the Brand"
  • Joep Arts, VU
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Contact: Barry List
barry.list@informs.org
443-757-3560
Institute for Operations Research and the Management Sciences
Source:Eurekalert

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