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2007 – ISMS Practice Prize

Dr. V. Kumar was recently named as one of the finalist for the 2007 ISMS Practice Prize Award. Each year the INFORMS Society for Marketing Science holds a Practice Prize Competition which is awarded for an outstanding implementation of marketing science concepts and methods. The methodology used must be sound and appropriate to the problem and organization, and the work should have had significant, verifiable, and quantitative impact on the performance of the client firm.

Dr. Kumar was declared as a finalist for this award in recognition of the research study titled, “Marketing-Mix Recommendation to Maximize value Growth at P&G Asia-Pacific” along with his colleagues – Jia Fan, University of Connecticut; Rohit Gulati and P. Venkat, P&G Asia Pacific. This study measured the price and distribution elasticities for all of P&G’s detergent products for a South Asian market by building a random coefficient model with system of equations. A sales volume and value simulator were developed based on the model results. By using this simulator, P&G increased their prices to the optimal price level and reallocated their marketing resources to the SKUs with the highest potential to increase the sales volume. As a result, P&G gained over 39 million dollars in value growth over a one year period due to the implementation of the recommendations from our modeling approach.

Read more about this study here.