Knowledge of a customer's willingness to pay (WTP) at early stages of product development is key to the success of innovations. However, since innovative products do not exist yet, only the hypothetical WTP can be surveyed, inducing a measurement bias. Unfortunately, little is known about the factors that induce this bias and how it differs depending on the method utilized in measuring WTP.

Another great achievement by the Marketing Center Münster:

The paper entitled "What is happening to my nearby stores? The own- and cross-effect of a radical store transformation on existing customers" co-authored by Professor Manfred Krafft and former Chair of Marketing Management team members Dr. Mirja Kroschke and Dr. Felix Lehmkuhle has been published in print in the prestigous Journal of the Academy of Marketing Science (JAMS).

Digital technologies are rapidly changing the way businesses operate. There is an increasing demand for partially or fully digital products and services; companies interact with customers and supply chain partners through digital channels; internal processes and operations such as production or manufacturing or office management also rely on digital technologies.

As part of a multinational research team around Vijay Viswanathan, Tammo Bijmolt and Javier Sese, Professor Manfred Krafft and Dr.

Münster’s marketing scholars have added one more piece to the EWOM puzzle: Almost 20 years after MCM Professor Thorsten Hennig-Thurau published what became the seminal study on consumer articulations about products and services on the internet, a team of scholars from the Marketing Center Münster has shed more light on what can be easily considered the most powerful information source in today’s digital market environment.

In his recent publication: Metrics gone wrong: What managers can learn from the 2016 presidential elections, MCM scholar Raoul Kübler discusses together with his colleague Professor Koen Pauwels from Northeastern University, Boston USA how relying on biased market intelligence and targeting the wrong KPIs had fatal consequences for Hillary Clinton’s presidential campaign.