In this paper we develop a stochastic (first order Markovian) consumer choice model that represents variety seeking behaviour and we investigate the practical implications of this model for optimal product positioning relative to a zero order model that does not incorporate variety seeking. We show
The effect of past behavior on variety seeking: Automatic and deliberative influences
β Scribed by Hao Shen; Robert S. Wyer Jr.
- Publisher
- Elsevier Science
- Year
- 2010
- Tongue
- English
- Weight
- 210 KB
- Volume
- 20
- Category
- Article
- ISSN
- 1057-7408
No coin nor oath required. For personal study only.
β¦ Synopsis
Abstract
Consumers often make multiple purchases of products to use over a period of time. In doing so, they sometimes choose their most preferred option for use on each occasion. In other cases, however, they are likely to distribute their choices over several alternatives. These decision strategies could be applied either deliberately or spontaneously without awareness of the factors that give rise to their application. Three studies examined the conditions in which these spontaneous and deliberative processes exert an influence on variety seeking.
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