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A Multiattribute Model of Consumer Choice During Product Learning
- Source :
- Marketing Science. 4(1):41-61
- Publication Year :
- 1985
-
Abstract
- The processes of consumer preference formation during product learning are analyzed. A hypothesis about how individuals form attribute expectations is used to derive a dynamic multinomial logit model of individual choice which endogenously recognizes product learning. The model and its underlying assumptions are then tested in the context of an interactive grocery store learning game. The results support most elements of the proposed model structure. An assumption of temporal stationarity in attribute salience, however, could not be supported. Approaches to implementation of the model are discussed, and implications for marketing management and research in individual choice modeling are addressed.
- Subjects :
- Marketing
Choice set
Marketing management
Salience (language)
Mixed logit
Consumer choice
Econometrics
Economics
Context (language use)
Product (category theory)
Business and International Management
choice models, new product forecasting, decision making under uncertainty
Multinomial logistic regression
Subjects
Details
- Volume :
- 4
- Issue :
- 1
- Database :
- OpenAIRE
- Journal :
- Marketing Science
- Accession number :
- edsair.doi.dedup.....2043edb19e6e4e29949e0092518cdc63
- Full Text :
- https://doi.org/10.1287/mksc.4.1.41