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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), pp. 71-92.

Record type: Article

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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More information

Published date: 2012
Related URLs:
Organisations: Statistics

Identifiers

Local EPrints ID: 339781
URI: http://eprints.soton.ac.uk/id/eprint/339781
ISSN: 1470-7853
PURE UUID: afd1cc70-40f4-4a26-aed2-16700b8ab72e

Catalogue record

Date deposited: 30 May 2012 13:05
Last modified: 18 Jul 2017 05:52

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Contributors

Author: Len Marchant
Author: Phil Prescott
Author: Nic Jackson

University divisions

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