Consumer Choice And Market Expansion

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Consumer Choice and Market Expansion

Author : Ruxian Wang
Publisher :
ISBN 13 :
Total Pages : 51 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Consumer Choice and Market Expansion by : Ruxian Wang

Download or read book Consumer Choice and Market Expansion written by Ruxian Wang and published by . This book was released on 2020 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Market size, measured by the number of people who are interested in products from the same category, may be highly influenced by assortment planning and pricing decisions. This effect is referred to as market expansion. In this paper, we incorporate the market expansion effects into consumer choice models and investigate assortment and pricing problems. In particular, we take the widely used multinomial logit model as a showcase to examine the market expansion effects on assortment planning and pricing, and also propose an alternating-optimization expectation-maximization method, which separates the estimation of consumer choice behavior and the market expansion effects, to calibrate the new model. Our empirical study on a real data set shows the efficiency of our estimation method and the importance of incorporating the market expansion effects into consumer choice models. Failure to account for the market expansion effects may lead to substantial losses in demand estimation and operations management.

Consumer Choice Behavior and New Product Development

Author : Stelios Tsafarakis
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Consumer Choice Behavior and New Product Development by : Stelios Tsafarakis

Download or read book Consumer Choice Behavior and New Product Development written by Stelios Tsafarakis and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The extremely high costs associated with the commercial failure of a new product, stresses the importance of a model that will effectively forecast the market penetration of a product at the design stage. The purpose of our study is to discover heuristics that will better explain market share, an issue of considerable concern to industry, which also, if successfully pursued, will increase the value of the analytical tools developed for managers. A method easy to implement is presented, which improves the value of market simulations in conjoint analysis. The proposed approach deals with two issues common to traditional market simulations in the context of conjoint analysis applications - the lack of differential impact of attributes across alternatives and the absence of accounting for differential substitution across brands (i.e. the IIA problem). We deal with the first issue by “tuning” utilities with individual level exponents, as opposed to a common exponent under the “ALPHA” rule (the current state of the art approach). These exponents derive from the range, skewness and kurtosis of the distribution of utilities that a respondent assigns to various products. While these exponents are individual specific, the effects of the coefficients are assumed to be homogeneous across consumers to preserve model parsimony, while accounting for observed heterogeneity in the data. The second issue is studied in the model via a similarity “correction” for each pair of products. The performance of the approach is validated both on real data from a market survey concerning milk, and on simulated data through the design of a Monte Carlo experiment. The results of the simulation for different market scenarios indicate that the approach appropriately exhibits the theoretical properties that are necessary for the efficient representation of consumer choice behavior. In addition, the proposed model outperforms the state of the art methodology, as well as some more traditional approaches, with regard to the forecasting accuracy on market shares estimation, both on the real and the simulated data sets. The results obtained have important implications for marketing managers concerning the design of new products. A new concept can be tested before it enters the production stage, using data obtained from a market survey. The high predictive accuracy of the model may assist a firm in minimizing the uncertainty and risks associated with a new product launch. The case study with data from a real market survey, illustrates the practical applicability of the approach.

The Paradox of Choice

Author : Barry Schwartz
Publisher : Harper Collins
ISBN 13 : 0061748994
Total Pages : 308 pages
Book Rating : 4.0/5 (617 download)

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Book Synopsis The Paradox of Choice by : Barry Schwartz

Download or read book The Paradox of Choice written by Barry Schwartz and published by Harper Collins. This book was released on 2009-10-13 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether we're buying a pair of jeans, ordering a cup of coffee, selecting a long-distance carrier, applying to college, choosing a doctor, or setting up a 401(k), everyday decisions—both big and small—have become increasingly complex due to the overwhelming abundance of choice with which we are presented. As Americans, we assume that more choice means better options and greater satisfaction. But beware of excessive choice: choice overload can make you question the decisions you make before you even make them, it can set you up for unrealistically high expectations, and it can make you blame yourself for any and all failures. In the long run, this can lead to decision-making paralysis, anxiety, and perpetual stress. And, in a culture that tells us that there is no excuse for falling short of perfection when your options are limitless, too much choice can lead to clinical depression. In The Paradox of Choice, Barry Schwartz explains at what point choice—the hallmark of individual freedom and self-determination that we so cherish—becomes detrimental to our psychological and emotional well-being. In accessible, engaging, and anecdotal prose, Schwartz shows how the dramatic explosion in choice—from the mundane to the profound challenges of balancing career, family, and individual needs—has paradoxically become a problem instead of a solution. Schwartz also shows how our obsession with choice encourages us to seek that which makes us feel worse. By synthesizing current research in the social sciences, Schwartz makes the counter intuitive case that eliminating choices can greatly reduce the stress, anxiety, and busyness of our lives. He offers eleven practical steps on how to limit choices to a manageable number, have the discipline to focus on those that are important and ignore the rest, and ultimately derive greater satisfaction from the choices you have to make.

Ethics in Consumer Choice

Author : Nina Langen
Publisher : Springer Science & Business Media
ISBN 13 : 3658007591
Total Pages : 361 pages
Book Rating : 4.6/5 (58 download)

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Book Synopsis Ethics in Consumer Choice by : Nina Langen

Download or read book Ethics in Consumer Choice written by Nina Langen and published by Springer Science & Business Media. This book was released on 2012-12-20 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation elaborates differences and similarities of forms of ethical behaviour in general and analyses whether German consumers differentiate between different types of ethical behaviour in particular. The thesis is characterised by its intensive combination of theoretical and empirical research. It furthermore contributes to the literature as the method triangulation applied in the different surveys reveals previously unknown relationships between different kinds of ethical behaviour, such as ethical consumption and charitable giving, as well as between different forms of ethical products. Choice experiment, latent class analysis, information display matrix and item-based attitude assessment allowed the comparison of stated and revealed preferences as well as an analysis of the relevance of ethical product features within the context of different product and process attributes. The dissertation provides insights into a research field which is becoming more and more relevant and improves the understanding of consumers’ assessment and the interdependencies of the possibilities of ethical behaviour. This allows the development of recommendations for consumer policy makers, business and NGOs concerned with the ethics of consumer choice as well as future research on ethical behaviour in general and ethical consumption in particular.

Handbook of Developments in Consumer Behaviour

Author : Victoria Wells
Publisher : Edward Elgar Publishing
ISBN 13 : 1781005125
Total Pages : 625 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis Handbook of Developments in Consumer Behaviour by : Victoria Wells

Download or read book Handbook of Developments in Consumer Behaviour written by Victoria Wells and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook examines the area of consumer behaviour from the perspective of current developments and developing areas for the discipline, to new opportunities that comprehend the nature of consumer choice and its relationship to marketing. Consumer research incorporates perspectives from a spectrum of long-established sciences: psychology, economics and sociology. This Handbook strives to include this multitude of sources of thought, adding geography, neuroscience, ethics and behavioural ecology to this list. Encompassing scholars with a passion for researching consumers, this Handbook highlights important developments in consumer behaviour research, including consumer culture, impulsivity and compulsiveness, ethics and behavioural ecology. It examines evolutionary and neuroscience perspectives as well as consumer choice. Undergraduate and postgraduate students and researchers in marketing with interests in consumer behaviour will find this enriching resource invaluable.

Market Domination!

Author : Stephen G. Hannaford
Publisher : Bloomsbury Publishing USA
ISBN 13 : 1567207316
Total Pages : 184 pages
Book Rating : 4.5/5 (672 download)

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Book Synopsis Market Domination! by : Stephen G. Hannaford

Download or read book Market Domination! written by Stephen G. Hannaford and published by Bloomsbury Publishing USA. This book was released on 2007-06-30 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: An oligopoly (from the Greek, few sellers) is a market that is dominated by a few large and powerful players. As Steve Hannaford documents with numerous examples, virtually every industry todayfrom medical equipment to airlines, toy retailing to oilis trending in this direction, in the greatest movement toward industry consolidation since the turn of the 20th century. Charting the course of this trend around the world, Hannaford examines the motivations behind consolidation resulting from mergers, acquisitions, buyouts, and alliances; how companies exert political pressure to their advantage; and how the actions of the most dominant playerssuch as Coca-Cola, Wal-Mart, Viacom, Dell, ExxonMobil, Citigroup, and othersaffect the choices we make at the supermarket, the drugs we are prescribed, and the movies we watch. Everyone who reads the newspapers is aware of the dizzying pace of mergers, acquisitions, buyouts, and alliances, between big companies and small companies in every industry. Such deals, along with the growing social and political clout of the biggest companies, are critical issues for the economy and for our future as consumers. Charting the course of this trend around the world, Hannaford examines the motivations behind consolidation into corporate empires, how companies exert political pressure to their advantage, and how the actions of the most dominant players, such as Coca-Cola, Wal-Mart, Viacom, Dell, ExxonMobil, Citigroup, and others, affect the choices we have at the supermarket, the drugs we are prescribed, and the movies we watch. Considering the implications of industry concentration on competition, technological innovation, business management, strategy, consumer behavior, and politics, Hannaford paints a provocative, but ultimately balanced, picture of big business and its impact on society.

Rocket: Eight Lessons to Secure Infinite Growth

Author : Michael J. Silverstein
Publisher : McGraw Hill Professional
ISBN 13 : 1259585433
Total Pages : 321 pages
Book Rating : 4.2/5 (595 download)

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Book Synopsis Rocket: Eight Lessons to Secure Infinite Growth by : Michael J. Silverstein

Download or read book Rocket: Eight Lessons to Secure Infinite Growth written by Michael J. Silverstein and published by McGraw Hill Professional. This book was released on 2015-10-06 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rocket tells the story of how sixteen remarkable business leaders created great brands. Leslie Wexner tells you how he turned a two-store chain into a $6.5 billion worldwide brand called Victoria Secret, and Howard Schultz shares how he took his passion for a little coffee shop in Seattle and grew it into a 22,000-store chain, just to name two. Every story is connected to a “how-to” lesson, and by the end, you’ll have what you need to turn your best customers into apostles, cravers, and brand ambassadors. A must-have guide for everyone who wants to grow their business faster than a competitor, this authentic, vibrant, and engaging book brings you the latest practical techniques for knowing your customers’ desires and behaviors in order to deliver intimately rewarding experiences every time they shop—including knowing what they need before they do. Included is a “self critique” to identify where you are currently before you transform your career and company by mastering how to: • Create a demand-space map and predict how big a share of a demand space you can win with the proper mix of emotional and functional benefits satisfying the attributes of that space • Determine a strategic direction for where to place investment bets, identify which brands are best suited to win, and which are most responsive to investment • Deliver all the core benefits of a particular demand space in your product—from packaging, shelving, pricing, and promotion to message development, store operations, delivery, and employee engagement • Maintain a long-term vision to continuously quantify and modify for ongoing improvement, while using your successes to convert more champions along the way With Rocket, you can rise into a cycle of renewal, energy, and power that can launch startups to phenomenal success and turn around the fate of multinational corporations.

Expanding Consumer Choice

Author : James Northen
Publisher :
ISBN 13 : 9781904231141
Total Pages : 268 pages
Book Rating : 4.2/5 (311 download)

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Book Synopsis Expanding Consumer Choice by : James Northen

Download or read book Expanding Consumer Choice written by James Northen and published by . This book was released on 2002-01-01 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Consumer Choice Process

Author : Rashmi Aggarwal
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783659481246
Total Pages : 264 pages
Book Rating : 4.4/5 (812 download)

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Book Synopsis Consumer Choice Process by : Rashmi Aggarwal

Download or read book Consumer Choice Process written by Rashmi Aggarwal and published by LAP Lambert Academic Publishing. This book was released on 2013 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumer choice process is that aspect of consumer behaviour, which, if based on intuition can lead to misleading results. Measurement of consumer choice process with the help of choice models makes the results reliable as well as trust worthy. In order to build long-term relationship with consumers, marketers need to understand how consumers actually make their purchase decisions so as to design appropriate marketing programs. If the companies are able to change the mindset of the consumers, that is, if they are able to make the consumers buy their brands, there would be immense chances for higher growth in future. This book provides a platform to cope with increased competition in light of the dynamics of consumer shopping behaviour. Marketers can utilize the existing patterns of information search behaviour in their target market in order to launch a new product or to reposition their existing product. Brand choice probabilities can be used for market segmentation. New products and marketing programs can be targeted at those consumers who frequently switch brands by studying their switching behaviour.

Food Choice And The Consumer

Author : David Marshall
Publisher : Springer Science & Business Media
ISBN 13 : 9780751402346
Total Pages : 350 pages
Book Rating : 4.4/5 (23 download)

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Book Synopsis Food Choice And The Consumer by : David Marshall

Download or read book Food Choice And The Consumer written by David Marshall and published by Springer Science & Business Media. This book was released on 1995-12-31 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: The provision of food for consumers is affected by factors concerned with a variety of disciplines such as technical feasibility, choice and environment. This book explores these factors.

Discrete Choice Methods with Simulation

Author : Kenneth Train
Publisher : Cambridge University Press
ISBN 13 : 0521766559
Total Pages : 399 pages
Book Rating : 4.5/5 (217 download)

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Book Synopsis Discrete Choice Methods with Simulation by : Kenneth Train

Download or read book Discrete Choice Methods with Simulation written by Kenneth Train and published by Cambridge University Press. This book was released on 2009-07-06 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation. Researchers use these statistical methods to examine the choices that consumers, households, firms, and other agents make. Each of the major models is covered: logit, generalized extreme value, or GEV (including nested and cross-nested logits), probit, and mixed logit, plus a variety of specifications that build on these basics. Simulation-assisted estimation procedures are investigated and compared, including maximum stimulated likelihood, method of simulated moments, and method of simulated scores. Procedures for drawing from densities are described, including variance reduction techniques such as anithetics and Halton draws. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. The second edition adds chapters on endogeneity and expectation-maximization (EM) algorithms. No other book incorporates all these fields, which have arisen in the past 25 years. The procedures are applicable in many fields, including energy, transportation, environmental studies, health, labor, and marketing.

The Business of Choice

Author : Matthew Willcox
Publisher : Pearson Education
ISBN 13 : 0134053451
Total Pages : 247 pages
Book Rating : 4.1/5 (34 download)

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Book Synopsis The Business of Choice by : Matthew Willcox

Download or read book The Business of Choice written by Matthew Willcox and published by Pearson Education. This book was released on 2015 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether your objective is to grow a brand or promote healthy behaviors, you need a deep understanding of how humans intuitively make choices using cognitive mechanisms that have evolved over millions of years. Marketing is about influencing consumers' decisions, and the more you understand about human nature, the more successful you'll be. Fortunately, dramatic recent advances in neuroscience, evolutionary biology, and the behavioral and social sciences are revolutionizing the way we understand human decision-making. The Business of Choice doesn't just reveal what's been learned: it shows how to use these insights to make your brand or behavior the most instinctive, intuitive, and easiest choice. Authored by Matthew Willcox, founder and executive director of Draft FCB's pioneering Institute of Decision Making, The Business of Choice shows you: How choice has shaped the human species, leading to choices that often seem strange and irrational How marketers can leverage the same evolutionary factors that have made humans so successful What we copy from others, and what we don't copy: the power and limitations of "social" The huge cognitive biases associated with planning the future and remembering the past How to make decisions easy for consumers: building cognitive fluency, creating reference points, architecting information, and managing choice Convincing customers to feel intuitively good about the choices they've made - so they'll return for more

Consumer's Choice - Marketing Our Nation's Food

Author : Michigan State University. Cooperative Extension Service
Publisher :
ISBN 13 :
Total Pages : 5 pages
Book Rating : 4.:/5 (632 download)

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Book Synopsis Consumer's Choice - Marketing Our Nation's Food by : Michigan State University. Cooperative Extension Service

Download or read book Consumer's Choice - Marketing Our Nation's Food written by Michigan State University. Cooperative Extension Service and published by . This book was released on 1969 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Theory of the Marketing Firm

Author : Gordon R. Foxall
Publisher : Springer Nature
ISBN 13 : 3030861066
Total Pages : 385 pages
Book Rating : 4.0/5 (38 download)

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Book Synopsis The Theory of the Marketing Firm by : Gordon R. Foxall

Download or read book The Theory of the Marketing Firm written by Gordon R. Foxall and published by Springer Nature. This book was released on 2021-11-12 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: The marketing firm is that business organisation which responds to the imperatives of consumer-orientation. Its style of management is marked by its adherence to the criteria of goal separation, participation in marketing transactions, entrepreneurial sovereignty and reciprocal entrepreneurial management, all of which are explored in this pioneering book. It assumes the proposition, uncontroversial enough to marketing academics and students, that contemporary firms can survive and prosper – achieve their financial goal, be it the maximization of profit or sales or growth – only if they respond appropriately to those imperatives: specifically, the forces that promote consumer discretion and consumer sophistication. Surprisingly, however, theories of the firm, based on economics, strategic management or behavioural science, show scant recognition of this observation which is abundantly clear from the most elementary treatment of marketing management. Renowned scholar Gordon R. Foxall argues that this proposition should form the starting point of a theory of the firm and explores its implications for marketing theory in the light of the findings of consumer behaviour analysis and research on the marketing firm. Hence, while pursuing a competence theory of the marketing firm based on the idealised implications of the imperatives of consumer-orientation, the book rests its conception on a groundwork of empirical evidence on consumer behaviour and corporate action.

Intermediate Microeconomics

Author : Patrick M. Emerson
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (123 download)

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Book Synopsis Intermediate Microeconomics by : Patrick M. Emerson

Download or read book Intermediate Microeconomics written by Patrick M. Emerson and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Technology and Consumption

Author : Ruby Roy Dholakia
Publisher : Springer Science & Business Media
ISBN 13 : 1461421586
Total Pages : 222 pages
Book Rating : 4.4/5 (614 download)

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Book Synopsis Technology and Consumption by : Ruby Roy Dholakia

Download or read book Technology and Consumption written by Ruby Roy Dholakia and published by Springer Science & Business Media. This book was released on 2012-05-16 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technology and Household Consumption is a comprehensive text that provides insights into technology’s impact on consumer behavior and the household environment. Consumption and consumer behavior has become a very important subject of study that is now covered in many disciplines including family economics, culture studies, and feminist/women studies. In the first section, this book provides a historical perspective on how consumer behaviors have changed because of technology and how technology itself has changed. Data on ownership and expenditures is detailed in describing the penetration of technology in the household and changes over time. In the examination of demographics and social changes, an emphasis is placed on women and children. As it is important to understand the entry paths and factors that influence them, the book also introduces a research framework to understanding the adoption and utilization of household technologies. In the second section, the book examines specific household technologies and consumption experiences including shopping choices and behaviors, entertainment outlets and availability, communications technologies, and working at home. The book concludes with a section on the relationships between marketers and consumers.

The Economics of New Goods

Author : Timothy F. Bresnahan
Publisher : University of Chicago Press
ISBN 13 : 0226074188
Total Pages : 508 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis The Economics of New Goods by : Timothy F. Bresnahan

Download or read book The Economics of New Goods written by Timothy F. Bresnahan and published by University of Chicago Press. This book was released on 2008-04-15 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt: New goods are at the heart of economic progress. The eleven essays in this volume include historical treatments of new goods and their diffusion; practical exercises in measurement addressed to recent and ongoing innovations; and real-world methods of devising quantitative adjustments for quality change. The lead article in Part I contains a striking analysis of the history of light over two millenia. Other essays in Part I develop new price indexes for automobiles back to 1906; trace the role of the air conditioner in the development of the American south; and treat the germ theory of disease as an economic innovation. In Part II essays measure the economic impact of more recent innovations, including anti-ulcer drugs, new breakfast cereals, and computers. Part III explores methods and defects in the treatment of quality change in the official price data of the United States, Canada, and Japan. This pathbreaking volume will interest anyone who studies economic growth, productivity, and the American standard of living.