Marketing Modeling and Validation

2012 ◽  
pp. 198-223
Keyword(s):  
Consumer Behavior ◽  
Consumer Choice ◽  
Choice Behavior ◽  
Consumer Preferences ◽  
Structural Equations ◽  
Purchase Decisions ◽  
Cognitive Characteristics ◽  
Preference Functions ◽  
Consumer Choice Behavior ◽  
Over Time

Most existing mathematical models of consumer choice behavior assume that individuals’ preferences remain invariant over time. Although the assumption of invariant preference functions may be reasonable in some choice contexts, consumer preferences are largely influenced by variety-seeking effects. This chapter presents four models on consumer choice behavior, shopping performance, marketplace advantage, and buying decisions involving several cognitive, economic, and relational determinants affecting consumer behavior. These models are based on sequential structural equations using interrelated variables and can be applied in research on consumer shopping channel choices based on cognitive characteristics and consumer risk profiles. The framework for measuring the consumer behavior discussed in this chapter provides analytical dimensions for delineating the prediction of intangible variables affecting consumer preferences in order to optimize the purchase decisions in a given marketplace.

Consumer Choice Behavior: An Experimental Approach

1969 ◽  
Vol 6 (4) ◽  
pp. 436-443 ◽  
Author(s):  
Flemming Hansen
Keyword(s):  
Consumer Behavior ◽  
Experimental Evidence ◽  
Consumer Choice ◽  
Choice Behavior ◽  
Experimental Approach ◽  
Attitude Measures ◽  
Consumer Choice Behavior ◽  
The Way

Predicting consumer behavior with attitude measures has not always been successful. It is proposed to deal directly with the attitude components. In this article one such approach is discussed, and experimental evidence is presented suggesting it is worthwhile to distinguish between the values consumers hold and the way in which they perceive the alternatives.

The Role of Personal Values in Marketing and Consumer Behavior

1977 ◽  
Vol 41 (2) ◽  
pp. 44-50 ◽  
Author(s):  
Donald E. Vinson ◽  
Jerome E. Scott ◽  
Lawrence M. Lamont
Keyword(s):  
Consumer Behavior ◽  
Consumer Choice ◽  
Choice Behavior ◽  
Personal Values ◽  
Consumer Choice Behavior

Can Personal Values be used to assist marketers in determining consumer choice behavior?

A Study on Behavioral Intention of Consumers Purchasing Fine Decoration Residence Based on Logit Model

2013 ◽  
Vol 838-841 ◽  
pp. 3208-3211 ◽  
Author(s):  
Ying Wang ◽  
Jing Guo
Keyword(s):  
Willingness To Pay ◽  
Behavioral Intention ◽  
Consumer Choice ◽  
Logit Model ◽  
Choice Behavior ◽  
Main Factors ◽  
Consumer Choice Behavior

This paper use the investigation data of Xi'an as the foundation, to examine consumer choice behavior of fine decoration residence. It analyzes the main factors which influence consumer choice behavior of fine decoration residence by using logit model. The results show that culture degree of consumer, understanding of fine decoration residence, willingness to pay as well as views on the quality of the decoration and style of fine decoration residence have a significant impact on consumer decisionmaking behavior in purchasing.

Consumer Choice and Market Expansion: Modeling, Optimization, and Estimation

2021 ◽  
Author(s):  
Ruxian Wang
Keyword(s):  
Operations Management ◽  
Expectation Maximization ◽  
Consumer Choice ◽  
Choice Behavior ◽  
Real Data ◽  
Market Size ◽  
Solution Approach ◽  
Pricing Decisions ◽  
Market Expansion ◽  
Consumer Choice Behavior

The growth of market size is crucially important to firms, although researchers often assume that market size is constant in assortment and pricing management. I develop a model that incorporates the market expansion effects into discrete consumer choice models and investigate various operations problems. Market size, measured by the number of people who are interested in the products from the same category, is largely influenced by firms’ operations strategy, and it also affects assortment planning and pricing decisions. Failure to account for market expansion effects may lead to substantial losses in demand estimation and operations management. Based on real data, this paper uses an alternating-optimization expectation-maximization method that separates the estimation of consumer choice behavior and market expansion effects to calibrate the new model. The end-to-end solution approach on modeling, operations, and estimation is readily applicable in real business.

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