Marketing Science journal publishes Forethought and Kmart Practice Prize Paper

Published in the preeminent journal of Marketing Science, Forethought reveals the power in modelling the rational and implicit emotions driving choice, to build effective communications and lead the turnaround of one of Australia’s household brands.

Forethought congratulates colleagues for their great work driving the business transformation of Kmart. Alongside success at the MSI Practice Prize, this work has now been featured in the November edition of the A-Grade, Marketing Science journal.

The paper, which addresses the repositioning of Kmart Australia in 2011, shows how by modelling emotional as well as cognitive drivers and estimating their impact on purchase intentions, Kmart was able to focus its communications, improving market share.

Kmart’s rapid turnaround was achieved via insight-driven creative, which leveraged the quantitatively verified drivers of market share in the category, demonstrating the power of data and analytics insight to the creative fraternity. The paper’s key contributions include:

• The incorporation of marketing science models of evaluation and purchase intentions

• A new methodology for emotions measurement

• And ultimately, an approach enabling marketing science to collaborate in the design of creative output, rather than mere testing of pre-existing content, thus optimizing advertising effectiveness at conception.
 

The Practice Prize Paper, titled Incorporating Emotions into Evaluation and Choice Models: Application to Kmart Australia, can be read in the November edition of the A-Grade, Marketing Science journal. For more information on this paper, please visit: http://www.forethought.com.au/Think-Tank/Papers/White-Papers/incorporating-emotions-into-evaluation-and-choice-models

This content was originally published by Forethought . Visit their website at www.forethought.com.au.

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