A Stochastic Response Model With Application to Brand Choice (Classic Reprint) - Softcover

Inhaltsangabe

A practical look at how consumers choose brands under uncertainty—and how to measure it.

This book explains a flexible model for brand choice that accounts for what we don’t know about why people respond the way they do. It focuses on how probabilities of choosing a brand can change over time, influenced by marketing actions, experience, and other factors. The approach lets researchers compare different models and test how well they fit real data.

- Learn how to describe a population with varying brand loyalty and changing response probabilities.
- See how to relate observed purchase data to underlying stochastic processes and estimate key parameters.
- Discover measures managers care about, such as long-run market shares and the speed at which markets approach equilibrium.
- Understand estimation and testing procedures that keep the analysis practical for real-world data.

Ideal for readers of marketing science and quantitative marketing who want a rigorous, data-driven way to study brand choice dynamics.

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