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ffi rs.indd 12/11/13 Page x

Marketing Analytics Data-Driven Techniques with Microsoft® Excel® Wayne L. Winston ffi rs.indd 12/11/13 Page i

Marketing Analytics: Data-Driven Techniques with Microsoft® Excel® Published by John Wiley & Sons, Inc. 10475 Crosspoint Boulevard Indianapolis, IN 46256 www.wiley.com Copyright © 2014 by Wayne L. Winston Published by John Wiley & Sons, Inc., Indianapolis, Indiana Published simultaneously in Canada ISBN: 978-1-118-37343-9 ISBN: 978-1-118-43935-7 (ebk) ISBN: 978-1-118-41730-0 (ebk) Manufactured in the United States of America 10 9 8 7 6 5 4 3 2 1 No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permit- ted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646- 8600. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions. Limit of Liability/Disclaimer of Warranty: The publisher and the author make no representations or warranties with respect to the accuracy or completeness of the contents of this work and speciﬁ cally disclaim all warranties, including without limitation warranties of ﬁ tness for a particular purpose. No warranty may be created or extended by sales or promotional materials. The advice and strategies con- tained herein may not be suitable for every situation. This work is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional services. If professional assistance is required, the services of a competent professional person should be sought. Neither the publisher nor the author shall be liable for damages arising herefrom. The fact that an organization or Web site is referred to in this work as a citation and/or a potential source of further information does not mean that the author or the publisher endorses the information the organization or website may provide or recommendations it may make. Further, readers should be aware that Internet websites listed in this work may have changed or disappeared between when this work was written and when it is read. For general information on our other products and services please contact our Customer Care Department within the United States at (877) 762-2974, outside the United States at (317) 572-3993 or fax (317) 572-4002. Wiley publishes in a variety of print and electronic formats and by print-on-demand. Some material included with standard print versions of this book may not be included in e-books or in print-on- demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at http://booksupport.wiley.com. For more infor- mation about Wiley products, visit www.wiley.com. Library of Congress Control Number: 2013954089 Trademarks: Wiley and the Wiley logo are trademarks or registered trademarks of John Wiley & Sons, Inc. and/or its affi liates, in the United States and other countries, and may not be used without written permission. Microsoft and Excel are registered trademarks of Microsoft Corporation. All other trade- marks are the property of their respective owners. John Wiley & Sons, Inc. is not associated with any product or vendor mentioned in this book. ffi rs.indd 12/11/13 Page ii

To my wonderful family: Gregory, Jennifer, and Vivian ffi rs.indd 12/11/13 Page iii

Credits Executive Editor Robert Elliott Project Editor Victoria Swider Technical Editor Lopo Rego Production Editor Daniel Scribner Copy Editor San Dee Phillips Editorial Manager Mary Beth Wakeﬁ eld Freelancer Editorial Manager Rosemarie Graham Associate Director of Marketing David Mayhew Marketing Manager Ashley Zurcher Business Manager Amy Knies Vice President and Executive Group Publisher Richard Swadley Associate Publisher Jim Minatel Project Coordinator, Cover Katie Crocker Proofreaders Josh Chase, Word One Louise Watson, Word One Indexer Ron Strauss Cover Image Wiley Cover Designer Ryan Sneed ffi rs.indd 12/11/13 Page iv

About the Author Wayne Winston is Professor Emeritus at the Indiana University Kelley School of Business and is currently a Visiting Professor at the University of Houston Bauer College of Business. Wayne has won more than 45 teaching awards at Indiana University. These awards include six school-wide MBA teaching awards. He has authored 25 reference journal articles and a dozen books including, Operations Research: Applications and Algorithms (Cengage, 1987), Practical Management Science (Cengage, 2011), Data Analysis and Decision-Making (Cengage, 2013), Simulation Modeling with @RISK (Cengage, 2004), Mathletics (Princeton, 2009), and Excel 2013 Data Analysis and Business Modeling (O’Reilly, 2014). Wayne has also developed two online courses for Harvard Business School: Spreadsheet Modeling, and Mathematics for Management. He has taught Excel modeling and consulted for many organizations including the U.S. Army, the U.S. Navy, Broadcom, Cisco, Intel, Pﬁ zer, Eli Lilly, Ford, GM, PWC, Microsoft, IAC, Deloitte Consulting, Booz Allen Hamilton, QAS, eBay, the Dallas Mavericks, and the New York Knicks. Lastly, Wayne is a two-time Jeopardy! champion. About the Technical Editor Lopo Rego joined the Kelley School of Business at Indiana University in 2011 as an Associate Professor of Marketing. Trained in Economics, he “converted to the dark side” dur- ing his MBA and has since been interested in understanding the association between marketing strategy and ﬁ rm perfor- mance. This proved to be a life-long quest, leading him to Ann Arbor where he eventually earned his Ph.D. in Marketing at the University of Michigan's Ross School of Business. Not surprisingly, his research interests focus primarily in understanding how marketing decisions, strategies, and investments translate into ﬁ rm performance, be it at the product-marketplace level, ﬁ nancial-accounting level or shareholder wealth level. Additionally, Lopo is interested in marketing analytics, namely in developing and analyzing marketing metrics that drive ﬁ rm performance. His research has been published in such out- lets as the Journal of Marketing, Marketing Science, European Journal of Marketing, Journal of Empirical Generalisations in Marketing, Harvard Business Review, Journal of Research in Marketing, and Marketing Science Institute Working Paper Series. ffi rs.indd 12/11/13 Page v

Acknowledgments Of all my books, this one was probably the hardest to write. Thanks to my wonderful wife Vivian who was so nice to me when I got frustrated during the authoring process. Wiley acquisitions editor Robert Elliott was always encourag- ing and his input was a great help in shaping the final product. Wiley project editor Victoria Swider did a great job in pushing me to become a better writer. Lastly, I must give a special note of thanks to my technical editor, Associate Professor of Marketing at the Kelly School of Business, Lopo Rego. Lopo did an amazing job of suggesting alternative wording and catching errors. He went above and beyond his role as technical editor, and I am truly indebted to him for his Herculean eff orts. ffi rs.indd 12/11/13 Page vi

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