A note on an integrated model of customer buying behavior

We propose a simple benchmark model for the integrated stochastic model of buying behavior developed in the article “Counting your customers: Compounding customer's in-store decisions, interpurchase time and repurchasing behavior” [Eur. J. Oper. Res. 127(1) (2000) 109–119]. Re-examining the pre...

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Bibliographic Details
Published in:European journal of operational research 2002-06, Vol.139 (3), p.682-687
Main Authors: Fader, Peter S, Hardie, Bruce G.S
Format: Article
Language:English
Subjects:
Buyer behavior
Marketing
Negative binomial distribution
Stochastic processes
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Summary:We propose a simple benchmark model for the integrated stochastic model of buying behavior developed in the article “Counting your customers: Compounding customer's in-store decisions, interpurchase time and repurchasing behavior” [Eur. J. Oper. Res. 127(1) (2000) 109–119]. Re-examining the previously analyzed data covering the purchasing of tea, we find that the new benchmark model – which involves merely three parameters and can be estimated entirely within a standard spreadsheet environment – outperforms the original integrated model and provides clearer, more complete answers to the managerial questions posed at the outset of the earlier paper.
ISSN:0377-2217
1872-6860
DOI:10.1016/S0377-2217(01)00165-5