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Special section introduction: the 2005 ISMS Practice Prize Competition.

Article Excerpt
We report on the finalists from the 2005 Informs Society for Marketing Science (ISMS) Practice Prize Competition, representing the best examples of rigor plus relevance that our profession produces.

Key words: marketing science practice; customer lifetime value; optimal pricing; promotion planning; one-to-one marketing

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Background

The awarding of a Practice Prize in 2005 marks the third year that ISMS has run a Practice Prize Competition, now an established event on the calendars of marketing scientists concerned with the practice side of our profession. To quote from the prize protocol:

The Practice Prize 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 preferably quantitative impact on the performance of the client organization.

In other words, the award is designed to recognize both the rigor of the work along with its focus on relevance and organizational impact. Specifically, the following criteria have driven the selection of finalists and the winner:

* implementation--who uses it, for what, and how

* impact--organization and what value

* methodological quality--leading edge/appropriateness

* technical originality--uniqueness and flair

* difficulty--problem(s), politics, and technical

* transportability--use in other applications or similar organizations

* charm--impact on society or newsworthiness The winning paper and two reports that follow represent three of the four finalists in the 2005 Practice Prize Competition, sponsored in...

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