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A Reference Price Model of Brand Choice for Frequently Purchased Products
Abstract
A brand choice model that incorporates both reference and observed prices is proposed for frequently purchased products. The model is composed of a probability-of-purchase component and a reference-price-formation component. Empirical testing of the model using coffee UPC scanner panel data demonstrates that for two of the three brands, the model predicts probability of purchase better than do standard demand models that utilize only current observed brand prices.
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Cites
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Satisfaction measures with monetary and non-monetary components: hotel’s overall scores
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Metadata
- Authors
- Winer, R. S.
- Venue
- Journal of Consumer Research
- Publisher
- Oxford University Press (OUP)
- Published
- 1986-09-01
- Volume
- 13
- Issue
- 2
- Pages
- 250-256
- ISSN
- 0093-5301 (ISSN-L)
- 1537-5277
- OpenAlex
- W2033434148
- Cited by
- 932
- References
- 2
- FWCI
- 18.16
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.