27.01.2010: Prof. Dr. Dr. h.c. Sönke Albers awarded with the Practice Prize of the INFORMS Society for Marketing Science
The 2009 INFORMS Society for Marketing Science Practice Prize was awarded to Marc Fischer, University of Passau, and Sönke Albers, Christian-Albrechts-University at Kiel, for their paper “Dynamic Marketing Budget Allocation across Countries, Products, and Marketing Activities.”
The prize—awarded for an outstanding implementation of marketing science concepts and methods—was presented at the Marketing Science Conference on January 15, 2010, hosted by the Massachusetts Institute of Technology.
The winning research provides an innovative solution to the dynamic marketing allocation budget problem for multi-product, multi-country firms. A decision support model allows the firm to determine annual marketing budgets at the country-product-activity level in an Excel-supported environment. The model takes into account marketing dynamics and a product’s growth potential as well as tradeoffs with respect to marketing effectiveness and profit contribution.
