Determinants of Advertising Effectiveness: The Development of an International Advertising Elasticity Database and a Meta-Analysis

Increasing demand for marketing accountability requires an efficient allocation of marketing expenditures. Managers who know the elasticity of their marketing instruments can allocate their budgets optimally. Meta-analyses offer a basis for deriving benchmark elasticities for advertising. Although they provide a variety of valuable insights, a major shortcoming of prior meta-analyses is that they report only generalized results as the disaggregated raw data are not made available. This problem is highly relevant because coding of empirical studies, at least to a certain extent, involves subjective judgment. For this reason, meta-studies would be more valuable if researchers and practitioners had access to disaggregated data allowing them to conduct further analyses of individual, e.g., product-level-specific, interests. We are the first to address this gap by providing (1) an advertising elasticity database (AED) and (2) empirical generalizations about advertising elasticities and their determinants. Our findings indicate that the average current-period advertising elasticity is 0.09, which is substantially smaller than the value 0f 0.12 that was recently reported by Sethuraman, Tellis, and Briesch (2011). Furthermore, our meta-analysis reveals a wide range of significant determinants of advertising elasticity. For example, we find that advertising elasticities are higher (i) for hedonic and experience goods than for other goods; (ii) for new than for established goods; (iii) when advertising is measured in gross rating points (GRP) instead of absolute terms; and (iv) when the lagged dependent or lagged advertising variable is omitted.advertising effectiveness, advertising elasticity, advertising elasticity database, meta-analysis, empirical marketing generalizations

The adoption of Digital Twins: Drivers, enablers, barriers, challenges, and benefits

The Fourth Industrial Revolution provides a wave of smart innovative technologies, where the Digital Twin is one of them. A Digital Twin is seen as a digital replica of a physical asset, process, or system, allowing real-time monitoring, simulations, and analysis for better decision-making. Despite its benefits, few have implemented Digital Twins and begun utilizing its value. Thus, this thesis investigates how organizations can get started with a Digital Twin by looking at the different elements of the implementation process. A systematic literature review was conducted to obtain a background foundation of Digital Twin adoption. The review aimed to identify what existing research had found as drivers and enablers, barriers, challenges during implementation, and benefits provided by a Digital Twin. To provide new research on the field, we followed a qualitative research method. Through 19 semi-structured interviews of Digital Twin experts, findings indicate that factors driving and enabling Digital Twin adoption include data access, staying competitive, improved asset management, and management support. The study also shows that costs, competence, and lack of incentives are the most significant challenges related to the implementation. Furthermore, it is important to be aware of your own needs and what you want the Digital Twin to solve, in order to measure a successful implementation. Interviewing experts with Digital Twin experience identified benefits such as proactive maintenance, improved decision-making, simulations, and increased efficiency. This study contributes to valuable perspectives on Digital Twin knowledge and its implications. Practitioners can use these findings to achieve awareness and knowledge related to implementation challenges, and further use this theory to see how the benefits of a Digital Twin can be realized

The adoption of Digital Twins: Drivers, enablers, barriers, challenges, and benefits

The Fourth Industrial Revolution provides a wave of smart innovative technologies, where the Digital Twin is one of them. A Digital Twin is seen as a digital replica of a physical asset, process, or system, allowing real-time monitoring, simulations, and analysis for better decision-making. Despite its benefits, few have implemented Digital Twins and begun utilizing its value. Thus, this thesis investigates how organizations can get started with a Digital Twin by looking at the different elements of the implementation process. A systematic literature review was conducted to obtain a background foundation of Digital Twin adoption. The review aimed to identify what existing research had found as drivers and enablers, barriers, challenges during implementation, and benefits provided by a Digital Twin. To provide new research on the field, we followed a qualitative research method. Through 19 semi-structured interviews of Digital Twin experts, findings indicate that factors driving and enabling Digital Twin adoption include data access, staying competitive, improved asset management, and management support. The study also shows that costs, competence, and lack of incentives are the most significant challenges related to the implementation. Furthermore, it is important to be aware of your own needs and what you want the Digital Twin to solve, in order to measure a successful implementation. Interviewing experts with Digital Twin experience identified benefits such as proactive maintenance, improved decision-making, simulations, and increased efficiency. This study contributes to valuable perspectives on Digital Twin knowledge and its implications. Practitioners can use these findings to achieve awareness and knowledge related to implementation challenges, and further use this theory to see how the benefits of a Digital Twin can be realized

Essays zur Nutzung sozialer und räumlicher Interdependenzen für die Optimierung von Marketingentscheidungen – Empirische Anwendungen auf die Prognose von Innovationserfolg und die Allokation von Marketingbudgets

Die vorliegende kumulative Dissertation ist im Rahmen und mit Förderung des DFG-Graduiertenkollegs „Betriebswirtschaftliche Aspekte lose gekoppelter Systeme und Electronic Business“ entstanden. Sie beschäftigt sich zum einen mit der Wirksamkeit von Werbung, indem sie 62 empirische Studien zu diesem Thema auswertet und mit den Ergebnissen vorhergehender Meta-Studien in Beziehung setzt. Zum anderen widmet sie sich der Möglichkeit zur Nutzung räumlicher Informationen zur Abbildung von Entscheidungsinterdependenzen zwischen Individuen, indem sie zeigt, inwieweit dieser Modellierungsansatz zur Optimierung unternehmerischer Marketingentscheidungen beitragen kann. Im Einzelnen umfasst diese Arbeit einen methodischen Beitrag zum Thema der Räumlichen Analyse, eine Meta-Studie zu Werbeelastizitäten (zusammen mit Rebecca Heuke und Michel Clement) und zwei großzahlige empirische Studien mit den Titeln „Predicting Innovation Success – An Extension of the Spatial Divergence Approach“ (zusammen mit Christian Barrot und Kristina Petersen) und „Optimal Allocation of Marketing Resources: Employing Spatially Determined Social Multiplier Effects between Physicians“ (zusammen mit Sönke Albers und Tammo H. A. Bijmolt)

Determinants of Advertising Effectiveness: The Development of an International Advertising Elasticity Database and a Meta-Analysis

Increasing demand for marketing accountability requires an efficient allocation of marketing expenditures. Managers who know the elasticity of their marketing instruments can allocate their budgets optimally. Meta-analyses offer a basis for deriving benchmark elasticities for advertising. Although they provide a variety of valuable insights, a major shortcoming of prior meta-analyses is that they report only generalized results as the disaggregated raw data are not made available. This problem is highly relevant because coding of empirical studies, at least to a certain extent, involves subjective judgment. For this reason, meta-studies would be more valuable if researchers and practitioners had access to disaggregated data allowing them to conduct further analyses of individual, e.g., product-level-specific, interests. We are the first to address this gap by providing (1) an advertising elasticity database (AED) and (2) empirical generalizations about advertising elasticities and their determinants. Our findings indicate that the average current-period advertising elasticity is 0.09, which is substantially smaller than the value 0f 0.12 that was recently reported by Sethuraman, Tellis, and Briesch (2011). Furthermore, our meta-analysis reveals a wide range of significant determinants of advertising elasticity. For example, we find that advertising elasticities are higher (i) for hedonic and experience goods than for other goods; (ii) for new than for established goods; (iii) when advertising is measured in gross rating points (GRP) instead of absolute terms; and (iv) when the lagged dependent or lagged advertising variable is omitted

Overexpression of cyclooxygenase-2 in adipocytes reduces fat accumulation in inguinal white adipose tissue and hepatic steatosis in high-fat fed mice

Cyclooxygenases are known as important regulators of metabolism and immune processes via conversion of C20 fatty acids into various regulatory lipid mediators, and cyclooxygenase activity has been implicated in browning of white adipose tissues. We generated transgenic (TG) C57BL/6 mice expressing the Ptgs2 gene encoding cyclooxygenase-2 (COX-2) in mature adipocytes. TG mice fed a high-fat diet displayed marginally lower weight gain with less hepatic steatosis and a slight improvement in insulin sensitivity, but no difference in glucose tolerance. Compared to littermate wildtype mice, TG mice selectively reduced inguinal white adipose tissue (iWAT) mass and fat cell size, whereas the epididymal (eWAT) fat depot remained unchanged. The changes in iWAT were accompanied by increased levels of specific COX-derived lipid mediators and increased mRNA levels of interleukin-33, interleukin-4 and arginase-1, but not increased expression of uncoupling protein 1 or increased energy expenditure. Epididymal WAT (eWAT) in TG mice exhibited few changes except from increased infiltration with eosinophils. Our findings suggest a role for COX-2-derived lipid mediators from adipocytes in mediating type 2 immunity cues in subcutaneous WAT associated with decreased hepatic steatosis, but with no accompanying induction of browning and increased energy expenditure.ISSN:2045-232

Overexpression of cyclooxygenase-2 in adipocytes reduces fat accumulation in inguinal white adipose tissue and hepatic steatosis in high-fat fed mice

Cyclooxygenases are known as important regulators of metabolism and immune processes via conversion of C20 fatty acids into various regulatory lipid mediators, and cyclooxygenase activity has been implicated in browning of white adipose tissues. We generated transgenic (TG) C57BL/6 mice expressing the Ptgs2 gene encoding cyclooxygenase-2 (COX-2) in mature adipocytes. TG mice fed a high-fat diet displayed marginally lower weight gain with less hepatic steatosis and a slight improvement in insulin sensitivity, but no difference in glucose tolerance. Compared to littermate wildtype mice, TG mice selectively reduced inguinal white adipose tissue (iWAT) mass and fat cell size, whereas the epididymal (eWAT) fat depot remained unchanged. The changes in iWAT were accompanied by increased levels of specific COX-derived lipid mediators and increased mRNA levels of interleukin-33, interleukin-4 and arginase-1, but not increased expression of uncoupling protein 1 or increased energy expenditure. Epididymal WAT (eWAT) in TG mice exhibited few changes except from increased infiltration with eosinophils. Our findings suggest a role for COX-2-derived lipid mediators from adipocytes in mediating type 2 immunity cues in subcutaneous WAT associated with decreased hepatic steatosis, but with no accompanying induction of browning and increased energy expenditure