This monograph offers a practical roadmap to credibility in the rapidly growing field of causal inference in marketing. It argues that credible causal claims do not arise from data alone, but from a critical identification step pairing data with assumptions. The strength of any conclusion rises or falls with the credibility of the assumptions. To that end, the monograph proposes a novel framework for working with assumptions: present them clearly, test them rigorously, and relax them when realism demands. It further distils the three core identification strategies, conditioning, identification by mechanism, and instrumental variables, and shows how common approaches such as difference-in-differences fit within these strategies, guided by insights from the philosophy of science. It also demonstrates how to design and interpret sensitivity analyses and consistency (placebo) tests as principled plausibility reasoning that stress tests assumptions rather than simply asserting them. Finally, it offers a practical workflow for applying causal inference methods to enhance credibility. In general, it provides a coherent and actionable path from assumptions to credible causal knowledge in marketing and beyond.
The phenomenon of globalization has been shaping the world economy and societies for centuries. However, a renewed interest in understanding its impact on marketing and consumers has come into the spotlight in recent years as the COVID-19 pandemic has shown how interdependent the world is. In addition, anti-globalization sentiment is growing worldwide. We believe this is a good time to take stock of the impact of globalization on businesses (especially on positioning and marketing strategies) and consumers' responses. The aim of this monograph is to provide an overview of globalization as a phenomenon that affects business activities and consumer behavior. Upon providing a brief history of globalization and identifying the key aspects of its conceptualization, we review the impact on the emergence of a global consumer culture, the positioning and marketing strategies adopted by firms, the reactions of consumers to globalization itself (i.e., their attitudes toward it and their identity shifts) and to the diversity of products and services available in a global marketplace, and the idiosyncratic ways in which globalization affects some key industries (e.g., technology, consumer goods, and media and entertainment) and countries. We conclude with a discussion on the need for research to further understand the impact of globalization on consumption, the opportunities at the intersection of globalization and technology development, and the effects of globalization on sustainable business practices.
In a world where resources are increasingly perceived as scarce, understanding the nature of scarcity and its profound effects on human behavior has never been more critical. This monograph delves into the multifaceted dimensions of scarcity its antecedents, manifestations, and consequences inviting readers to explore how scarcity shapes our decisions, relationships, and societal structures. From the psychological implications of time and money scarcity to the interpersonal dynamics that arise when individuals navigate differing levels of resource availability, this work unravels the complex ways in which scarcity can influence thinking and behavior. Scarcity can drive innovation, spur creativity, and even foster resilience; yet, it also carries the weight of negative consequences like impatience and selfishness. This monograph examines the delicate balance between abundance and scarcity, challenges conventional notions, and illuminates pathways for future research. Through illuminating the rich landscape of scarcity, the authors offer not only theoretical insights but also practical implications for marketers, poli- cymakers, and everyday individuals seeking to thrive amidst resource constraints.
Establishing causal relationships between the marketing variables under the control of a firm and outcome measures such as sales and profits is essential for the successful operation of a business. The goal is generally hindered by a lack of suitable experimental data owing to the costs and feasibility of conducting randomized experiments. Accordingly, researchers have employed observational and quasi-experimental data for causal inference. The evolutionary trajectory of causal inference is closely intertwined with advancements in business and technology, particularly as we enter the digital era characterized by big data and multi-channel marketing. Against this background, this monograph is a systematic review of recent developments in causal inference methods and their applications within the marketing field. For each causal inference method, five recently published academic papers in marketing research that employ these methods are discussed. In addition, this monograph provides simplified code for developing simulated data (using Python) and hypothetical examples of data analysis (using Stata). This addition will enable marketing researchers to practice several methods of causal analysis. Sections 1-5 elucidate the fundamental principles of causal inference. Subsequent sections (beginning from Section 6) delve into the details of a selection of papers that utilize various methods. These encompass: (i) well-established techniques, such as Differences-In-Differences, Instrumental Variable, Regression Discontinuity, Synthetic Control, and Propensity Score Methods, and (ii) emerging methodologies of Factor Model and Augmented Differences-In-Differences, Forward Differences-In-Differences, and Bayesian methods for causal inference. Further, this monograph reviews how machine learning methods enhance causal inference. This monograph includes several important and useful references not reviewed in the monograph. We expect this monograph to serve as a useful resource both to current and future researchers in marketing.
This work reviews aesthetics research in marketing. The account highlights central characteristics of this domain, situates it among related domains such as art, design, and sensory effects, and introduces additional constructs for consideration (e.g., functional- and conceptual aesthetics). A literature review is organized in terms of aesthetics principles, outcomes of these principles, and contexts in which these principles operate. Promising avenues for future research are integrated into the review. A subsequent section revisits the literature with an in-depth discussion of one of the principles: ambiguity. This latter section serves not only to spotlight an important aspect of aesthetic experience, but also to illustrate the interconnectivity between different parts of the aesthetics literature. Different principles and types of aesthetic elements figure-often simultaneously-in current contexts such as branding and product design. Better understanding of their respective roles may aid marketers in the use of aesthetics as a strategic tool.
