An improved, practical model of consumer choice


Marchant, Len, Prescott, Phil and Jackson, Nic (2012) An improved, practical model of consumer choice. International Journal of Market Research, 54, (1), 71-92.

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Description/Abstract

This paper describes a framework for understanding and researching brand choice. The underlying model starts from the assumption that purchasers faced with alternative brands will select what in their judgement suits them best. It develops the theory and the mathematics as simply as possible, and goes on to escribe the marketing implications. It explains how to build a working model of the market using Monte Carlo techniques, and how this can be used to test the validity of the basic assumptions and to explore possible marketing strategies. It demonstrates, using real data from an actual study, how to interpret the market model in terms of purchasers’ images of the brands. The paper will be of interest to both qualitative and quantitative researchers.

Item Type: Article
ISSNs: 1470-7853 (print)
1470-7853 (electronic)
Related URLs:
Subjects: H Social Sciences > HF Commerce
Q Science > QA Mathematics
H Social Sciences > HA Statistics
Divisions: Faculty of Social and Human Sciences > Mathematical Sciences > Statistics
ePrint ID: 339781
Date Deposited: 30 May 2012 13:05
Last Modified: 27 Mar 2014 20:22
URI: http://eprints.soton.ac.uk/id/eprint/339781

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