The Past, the Present and the Future of Marketing Decision Models

Abstract

The idea that marketing decisions can be supported with analytical, mathematical models took off in the sixties of the last century. Before that time, marketing decisions were mainly based on judgment and experience. This does not mean that there was no marketing analysis. For example, in the United Stated, by 1960 systematic marketing research was already more than 50 years old. But the emphasis was much more on collecting facts than on analyzing these facts in a way that is helpful for executive decision making.