For years, I have been impressed by how dynamic markets are. Marketing
strategies are rarely successful without adjustments over time, and
marketing managers need constantly to monitor, and anticipate when
possible, important changes in the marketing environment, so that they
can adapt their marketing strategies to changing market conditions. It
strikes me as important that the dynamic elements of marketing be
modeled and studied, and a significant part of my research activity has
been dedicated to exploring the nature and implications of dynamic
marketing strategies. The marketing field has used various models and
methodologies in the attempt to understand dynamic markets. I must thank
my dissertation advisor, Dave Montgomery at Stanford, for originally
turning my attention toward time-varying parameter models some 14 years
ago. From that plat- form, I have proceeded to search for models that
capture the essence of dynamic marketing, as well as for methodological
tools, empirical as well as analytical, that allow insightful study of
such models.