Three models—the heterogeneous linear learning model, an evolutionary model, and a model which accounts for both evolutionary behavior and purchase event feedback—are compared for their ability to model an actual situation. All three models acceptably fit the data. However, conclusions about consumer behavior can best be obtained from the dual-effects model.
Get full access to this article
View all access options for this article.
References
1.
CarmanJames M., “Brand Switching and Linear Learning Models,” Journal of Advertising Research, 6 (June 1966), 23–31.
2.
CramerH., Mathematical Methods of Statistics, Princeton: Princeton University Press, 1946.
3.
JonesJ. Morgan, “A Non-Stationary Probability Diffusion Model of Consumer Brand Choice Behavior,” Working Paper No. 146, Western Management Science Institute, UCLA, 1969.
4.
KuehnAlfred A., “Consumer Brand Choice as a Learning ing Process,” Journal of Advertising Research, 2 (December 1962), 10–7.
5.
MassyWilliam F., “Linear Learning Models for Brand Choice,” Working Paper No. 133, Graduate School of Business, Stanford University, 1967 (Working draft of Chapter 5 of MassyWilliam F., MontgomeryDavid B., and MorrisonDonald G., Stochastic Models of Consumer Behavior, in press).
MontgomeryDavid B., “A Probability Diffusion Model of Dynamic Market Behavior,” Working Paper No. 205 66, Sloan School of Management, Massachusetts Institute of Technology, 1966.
8.
MontgomeryDavid B., “A Stochastic Response Model with Application to Brand Choice,” Management Science, 15 (March 1969), 323–37.
9.
RaoRadhakrishna C., “Criteria of Estimation in Large Samples,” Sankhyā: The Indian Journal of Statistics: Series A, 25 (July 1963), 189–206.