An improved, practical model of consumer choice
An improved, practical model of consumer choice
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.
71-92
Marchant, Len
028a776e-9f3c-49b4-a78e-c1f9642e7a63
Prescott, Phil
cf0adfdd-989b-4f15-9e60-ef85eed817b2
Jackson, Nic
574824d7-6075-4355-976d-caa9862b2609
2012
Marchant, Len
028a776e-9f3c-49b4-a78e-c1f9642e7a63
Prescott, Phil
cf0adfdd-989b-4f15-9e60-ef85eed817b2
Jackson, Nic
574824d7-6075-4355-976d-caa9862b2609
Marchant, Len, Prescott, Phil and Jackson, Nic
(2012)
An improved, practical model of consumer choice.
International Journal of Market Research, 54 (1), .
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.
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Published date: 2012
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Local EPrints ID: 339781
URI: http://eprints.soton.ac.uk/id/eprint/339781
ISSN: 1470-7853
PURE UUID: afd1cc70-40f4-4a26-aed2-16700b8ab72e
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Date deposited: 30 May 2012 13:05
Last modified: 08 Jan 2022 02:55
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Author:
Len Marchant
Author:
Nic Jackson
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