Bayesian methods have become widespread in the marketing literature. We review the essence of the Bayesian approach and explain why it is particularly useful for marketing problems. While the appeal of the Bayesian approach has long been noted by researchers, recent developments in computational...

Conjoint analysis is a survey-based method used to measure consumer preferences and predict demand for products that may not yet exist in the marketplace. The most frequently used form of conjoint analysis involves having respondents choose from among a relatively small set of offerings with...

Market basket data reflect purchases from multiple product categories, some of which are complements and others that are substitutes. Consumers are more likely to make joint purchases from categories that are complements, and less likely to make joint purchases from categories that are...