A Multiattribute Model of Consumer Choice During Product Learning

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.

[1]  Peter S. H. Leeflang,et al.  On the Predictive Power of Market Share Attraction Models , 1984 .

[2]  J. Hauser,et al.  Dynamic Analysis of Consumer Response to Marketing Strategies , 1982 .

[3]  Brian T. Ratchford,et al.  The Value of Information for Selected Appliances , 1980 .

[4]  Kenneth L Sobel.  TRAVEL DEMAND FORECASTING BY USING THE NESTED MULTINOMIAL LOGIT MODEL , 1980 .

[5]  R. L. Keeney,et al.  Decisions with Multiple Objectives: Preferences and Value Trade-Offs , 1977, IEEE Transactions on Systems, Man, and Cybernetics.

[6]  Hermann Simon,et al.  Dynamics of Price Elasticity and Brand Life Cycles: An Empirical Study , 1979 .

[7]  David A. Aaker,et al.  A Normative Model of Consumer Information Processing , 1984 .

[8]  P. Naert,et al.  On the Prediction Power of Market Share Attraction Models , 1981 .

[9]  R. Meyer.  A Model of Multiattribute Judgments under Attribute Uncertainty and Informational Constraint , 1981 .

[10]  R. Lutz.  Changing Brand Attitudes through Modification of Cognitive Structure , 1975 .

[11]  P. Schmidt,et al.  Limited-Dependent and Qualitative Variables in Econometrics. , 1984 .

[12]  Imran S. Currim.  Predictive Testing of Consumer Choice Models Not Subject to Independence of Irrelevant Alternatives , 1982 .

[13]  Marcel Corstjens,et al.  Formal Choice Models in Marketing , 1983 .

[14]  D. S. Robson,et al.  A Simple Method for Constructing Orthogonal Polynomials When the Independent Variable is Unequally Spaced , 1959 .

[15]  Joel Huber,et al.  Market Boundaries and Product Choice: Illustrating Attraction and Substitution Effects , 1983 .

[16]  D Hensher,et al.  APPLICATION OF MULTINOMIAL PROBIT TO A TWO-PERIOD PANEL DATA SET. IN: URBAN TRANSPORT , 1982 .

[17]  G. Urban,et al.  Pre-Test-Market Evaluation of New Packaged Goods: A Model and Measurement Methodology , 1978 .

[18]  D. Wise,et al.  A CONDITIONAL PROBIT MODEL FOR QUALITATIVE CHOICE: DISCRETE DECISIONS RECOGNIZING INTERDEPENDENCE AND HETEROGENEOUS PREFERENCES' , 1978 .

[19]  Paul E. Green,et al.  A General Approach to Product Design Optimization via Conjoint Analysis , 1981 .

[20]  J. Dagsvik.  Discrete dynamic choice: an extension of the choice models of thurstone and luce , 1983 .

[21]  Allan D. Shocker,et al.  Multiattribute Approaches for Product Concept Evaluation and Generation: A Critical Review , 1979 .

[22]  R. Meyer.  A Descriptive Model of Consumer Information Search Behavior , 1982 .

[23]  A. Tversky.  Elimination by aspects: A theory of choice. , 1972 .

[24]  Fred S. Zufryden,et al.  A LOGIT‐MARKOVIAN MODEL OF CONSUMER PURCHASE BEHAVIOR BASED ON EXPLANATORY VARIABLES: EMPIRICAL EVALUATION AND IMPLICATIONS FOR DECISION MAKING* , 1981 .