Abstract
Because of inflation and supply shortages, managements increasingly have had to consider product reformulation as a means of keeping production costs down and retail prices competitive. An analytical approach is presented for estimating the market sizes for current and proposed new formulations of a product or brand. The analysis suggests fundamental issues that should be considered in the design and interpretation of research relevant to the reformulation decision, such as taste tests, announcement of the formulation change, and simulated shopping situations.
Get full access to this article
View all access options for this article.