We found a match
Your institution may have rights to this item. Sign in to continue.
- Title
An improved, practical model of consumer choice.
- Authors
Marchant, Len; Prescott, Phil; Jackson, Nic
- 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 describe 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.
- Subjects
BRAND choice; MONTE Carlo method; MARKETING strategy; CUSTOMER loyalty; MARKET segmentation; SALES promotion
- Publication
International Journal of Market Research, 2012, Vol 54, Issue 1, p71
- ISSN
1470-7853
- Publication type
Article
- DOI
10.2501/IJMR-54-1-071-092