Influence of situational variables on brand-choice models

The observed stochasticity in choice behavior was hypothesized to be partly influenced by situational factors. Consumption history of subjects was used to estimate binomial and Markov probabilities. The accuracy of these models was improved with the addition of situational variables. The classificat...

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Bibliographic Details
Published in:Journal of business research 1988-03, Vol.16 (2), p.91-99
Main Authors: Umesh, U.N., Cote, Joseph A.
Format: Article
Language:English
Subjects:
Brand loyalty
Brand preferences
Choices
Consumer behavior
Markov analysis
Stochastic models
Studies
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Summary:The observed stochasticity in choice behavior was hypothesized to be partly influenced by situational factors. Consumption history of subjects was used to estimate binomial and Markov probabilities. The accuracy of these models was improved with the addition of situational variables. The classification accuracy of the binomial and Markov models was also improved by including availability of alternative brands. The implications of the findings are discussed.
ISSN:0148-2963
1873-7978
DOI:10.1016/0148-2963(88)90035-5