“…Hence, digitalization of marketing fuels the buying process in all its stages ( Dahiya, 2018 ), from attraction to loyalty ( Baye et al., 2015 ; Seitz et al., 2017 ; Jun et al., 2014 ; Melis et al., 2015 ), but concrete analytical guidance is sparse. In particular, regarding the optimization of investment in advertising and marketing, which has been addressed by several authors ( Bagwell, 2007 ; Corfman and Lehmann, 1994 ; Cooper and Nakanishi, 1988 ; Eryigit, 2017 ; Kienzler and Lischka, 2015 ; Wierenga, 2008 ), the nature of DIM changes the cost structure of advertising and marketing ( Frohmann, 2018 ). The techniques of SEM, backlinks (in the form of external links), and display require an explicit marketing expense ( Goldfarb, 2002 ).…”