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Database marketers often select households for individual marketing contacts using information on past purchase behavior. One of the most common methods, known as RFM variables approach, ranks households according to three criteria: the recency of the latest purchase event, the long-run frequency of purchases, and the cumulative dollar expenditure. We argue that RFM variables approach is an indirect measure of the latent purchase propensity of the customer. In addition, the use of RFM information in targeting households creates major statistical problems (selection bias and RFM endogeneity) that complicate the calibration of forecasting models. Using a latent trait approach to capture a household's propensity to purchase a product, we construct a methodology that not only measures directly the latent propensity value of the customer, but also avoids the statistical limitations of the RFM variables approach. The result is a general household response forecasting and scoring approach that can be used on any database of customer transactions. We apply our methodology to a database from a charitable organization and show that the forecasting accuracy of the new methodology improves upon the traditional RFM variables approach.

This chapter identifies the serious issue of the mental health and wellbeing of English paramedics working in the emergency ambulance service. It identifies the case of the extant top-down performance measurement regime and the absence of indicators of wellbeing in ambulance performance reporting. The impact of such measures on frontline staff and the implications for their motivation and commitment are also documented. More decentralised, open and discursive approaches to performance management in the public sector are advocated as key methods for re-imagining ambulance and wider public services in a global context.

Drawing on relevant literature, the chapter provides the context of the English ambulance service and the challenges it faces with reference to the New Public Management (NPM) and New Public Governance (NPG). Key issues concerning performance metrics and staff wellbeing and welfare are then identified and discussed. The notions of communicative rationality, deliberative democracy and agonistic pluralism are introduced as a framework for analysing the state of both wellbeing and resilience and the performance regime within the English ambulance service. The chapter relates these themes to the re-imagining of public services internationally, proposing a more participative and discursive approach.

It is desirable for the evaluation of public services to include the wellbeing of the healthcare provider, as well as the public service recipient. Additionally, there is a case for greater participative and dialogic engagement to address the intertwined relationship of ambulance staff wellbeing and the performance management regime of the service. The process should be revised, therefore, to take into account the wellbeing of ambulance staff as an integral and intrinsic part of the delivery of the service, and it is recommended that deliberative methods of participation are deployed in reimagining ambulance services and public services more generally.

The challenges facing ambulance services and, more generally, health services globally continue to proliferate and intensify. They are exacerbated by foreseeable contextual challenges such as the demographic profile of patients and service users and budgetary cuts. Traditional and more recent NPM approaches are proving inadequate for this challenge and appear unsustainable in practice. The lack of acknowledgement of welfare indicators in the performance metrics make them unfit for purpose. Our suggested discursive approach would help to re-imagine the service by improving its sustainability and resilience in parallel with the improved wellbeing and personal resilience of the people who provide the service.

To fill the gap in the literature with regard to public value measurement (PVM) and to provide a model for measuring public value at an individual organizational level, based on managerial control systems (MCS).

This article helps review the literature on PVM and propose a model for measuring the value generated by individual organizations. Measurement challenges and potential solutions are investigated.

Public value generated by an individual organization can be calculated by measuring if and to what extent the organization’s outcomes and objectives have been achieved. Public value production and measurement are part of a wider PVM process, which is congruent with the major elements of MCS, from planning to operations, and measurement to evaluation.

This article provides knowledge to support the measurement of public value produced by public sector organizations. However, the suggested use of MCS for a comprehensive measure of the public value produced by a public body does not allow for a comparison of the public values generated by different organizations, as the value is calculated against the objectives set by that specific organization. More research is needed in order to fully utilize this model in practice.

The findings may help public sector organizations, policymakers and public managers measure the public value produced by a public organization as a whole.

This article may help citizens and other stakeholders understand the public value produced by a public organization.

This article is based on an original research undertaken by the author and faces the relatively neglected issue of PVM. It suggests the use of public value MCS as a model for measuring public value produced by individual organizations.

One of the most important issues facing a firm involved in direct marketing is the selection of addresses from a mailing list. When the parameters of the model describing consumers' reaction to a mailing are known, addresses for a future mailing can be selected in a profit-maximizing way. Usually, these parameters are unknown and have to be estimated. These estimates are used to rank the potential addressees and to select the best targets.

Several methods for this selection process have been proposed in the recent literature. All of these methods consider the estimation and selection step separately. Since estimation uncertainty is neglected these methods lead to a suboptimal decision rule and hence not to optimal profits. We derive an optimal Bayes decision rule that follows from the firm's profit function and which explicitly takes estimation uncertainty into account. We show that the integral resulting from the Bayes decision rule can be either approximated through a normal posterior, or numerically evaluated by a Laplace approximation or by Markov chain Monte Carlo integration. An empirical example shows that indeed higher profits result.

It is generally recognised that companies spend approximately 50% of their marketing budget on promotional activities. Advertising belongs to the most visible areas of a company’s activity. Therefore, it should not be surprising that the average recipient associates marketing with advertising, competitions and leaflets about new promotions delivered to houses or offices. Advertising, especially Internet advertising, is one of the most effective forms of marketing and one of the fastest developing areas of business. New channels of communication are emerging all the time – the Internet, digital television, mobile telephony; accompanied by new forms, such as the so-called ambient media. Advertising benefits from the achievements of many fields of science, that is, psychology, sociology, statistics, medicine and economics. At the same time, it combines science and the arts – it requires both knowledge and intuition. Contemporary advertising has different forms and areas of activity; yet it is always closely linked with the operations of a company – it is a form of marketing communication.

The indices of marketing communication presented in this chapter are generally known and used not only by advertising agencies but also by the marketing departments of many organisations. Brand awareness, advertising scope and frequency, the penetration index or the response rate belong to the most widely used indices; others, like the conversion rate or the affinity index, will get increasingly more significant along with the process of professionalisation of the environment of marketing specialists in Poland and with increased pressure on measuring marketing activities. Marketing indices are used for not only planning activities, but also their evaluation; some of them, such as telemarketing, mailing and coupons, provide an extensive array of possibilities of performance evaluation.

Each of the four objectives can be applied within the military training environment. Military training often requires that soldiers achieve specific levels of performance or proficiency in each phase of training. For example, training courses impose entrance and graduation criteria, and awards are given for excellence in military performance. Frequently, training devices, training media, and training evaluators or observers also directly support the need to diagnose performance strengths and weaknesses. Training measures may be used as indices of performance, and to indicate the need for additional or remedial training.

This chapter investigates the impact of policy interest rate news from the U.S. Federal Reserve (Fed) and the European Central Bank (ECB) on stock returns and volatilities of U.S. NYSE and German DAX listed commercial banks. We find that Fed news has the most influence on both U.S. and German listed bank stocks and an unexpected policy rate increase (decrease) lowers (raises) returns and raises volatility in the majority of cases. On the other hand, ECB news generally increases bank stock volatility in the United States but has little impact within its own domestic banking industry. While our results for the U.S. listed banks confirm that their stock prices are more responsive in bad economic times and also during periods of monetary tightening, we find disparities for German banks suggesting that U.S. and European banking industries respond heterogeneously to monetary policy news but the Global Financial Crisis increased the sensitivity of all banks to monetary policy news.

The idea that a significant portion of what consumers do, feel, and think is driven by automatic (or “implicit”) cognitive processes has sparked a wave of interest in the development of assessment tools that (attempt to) capture cognitive processes under automaticity conditions (also known as “implicit measures”). However, as more and more implicit measures are developed, it is becoming increasingly difficult for consumer scientists and marketing professionals to select the most appropriate tool for a specific research question. We therefore present a systematic overview of the criteria that can be used to evaluate and compare different implicit measures, including their structural characteristics, the extent to which (and the way in which) they qualify as “implicit,” as well as more practical considerations such as ease of implementation and the user experience of the respondents. As an example, we apply these criteria to four implicit measures that are (or have the potential to become) popular in marketing research (i.e., the implicit association test, the evaluative priming task, the affect misattribution procedure, and the propositional evaluation paradigm).

The role of money and monetary policy of the central bank in pursuing macroeconomic stability has significantly changed over the period since the end of World War II. Globalization, liberalization, integration, and transition processes generally shaped the crucial milestones of the macroeconomic development and substantial features of economic policy and its framework in Europe. Policy-driven changes together with variety of exogenous shocks significantly affected the key features of macroeconomic environment on the European continent that fashioned the framework and design of monetary policies.

This chapter examines the key basis of the central bank’s monetary policy on its way to pursue and preserve the internal and external stability of the purchasing power of money. Substantial elements of the monetary policy like objectives and strategies are not only generally introduced but also critically discussed according to their accuracy, suitability, and reliability in the changing macroeconomic conditions. Brief overview of the Eurozone common monetary policy milestones and the past Eastern bloc countries’ experience with a variety of exchange rate regimes provides interesting empirical evidence on origins and implications of vital changes in the monetary policy conduction in Europe and the Eurozone.