PUB - Publikationen an der Universität Bielefeld

One particularly predominant current challenge to quantitative management science is the modeling and analysis of competitive actions and reactions. Approaches following the stimulus response paradigm are able to take into account the limited access to a company's internal decision making processes. In the present paper the most significant characteristics of a behavioristic analysis of competitive reactions are described. Furthermore, a stochastic model of competitive reactions by the simultaneous use of several marketing instruments is proposed. The empirical evidence of the model will be demonstrated with POS scanner data on frequently purchased consumer goods.