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Villas-Boas Wins Marketing Award
Professor J. Miguel Villas-Boas has won the inaugural Long- Term Impact Award from the Society for Marketing Science at the Institute of Operations Research and the Management Sciences.
Villas-Boas received the award for his co-authored article “Endogeneity in Brand Choice Models” (Management Science, October 1999), which was recognized for having the most long-term impact among hundreds of papers between 1999 and 2003.
The ground-breaking article focused on the effect of firms’ marketing activities at the individual consumer level and ultimately changed the way marketers view data and consumer choice.
Before the paper's revelations, marketers mostly relied on scanner data and statistics to measure consumer purchase decisions to plan their strategies. But in a study of scanner data on yogurt and ketchup purchases, Villas-Boas demonstrated that a firm's endogenous, or internal, strategic decisions cannot be ignored.
Villas-Boas determined that by incorporating the economics that reflect the interaction between consumers and companies’ strategic marketing decisions, marketers can be more effective. The study showed that one cannot accurately assess market response without considering behavior both internally within an organization and externally in the realm of consumer choices.