A Composite Heterogeneous Model for Brand Choice Behavior
- 1 January 1973
- journal article
- Published by Institute for Operations Research and the Management Sciences (INFORMS) in Management Science
- Vol. 19 (5) , 499-509
- https://doi.org/10.1287/mnsc.19.5.499
Abstract
This paper proposes a new, more general model of consumer brand choice behavior. The model is a composite of the Bernoulli, Markov, and Linear Learning Models, all of which have previously been proposed to represent brand choice behavior. The properties of the model are explored, and a parameter estimation technique is developed. A special case of the model is developed for situations in which insufficient data are available to estimate the parameters of the complete model.Keywords
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