search query: @indexterm BRAND CHOICE / total: 192
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| Author: | Fader, P. |
| Title: | Integrating the Dirichlet-Multinomial and multinomial Logit models of brand choice |
| Journal: | Marketing Letters
1993 : APR, VOL. 4:2, p. 99-112 |
| Index terms: | MODELS BRAND CHOICE MARKETING |
| Language: | eng |
| Abstract: | This paper discusses the interpretative benefits that arise from merging the Dirichlet-multinomial (DM) model as a loyalty variable in the multinomial logit (MNL) model of brand choice. The estimated parameters of this hybrid model compare favorably to those of a "pure" DM model (with no marketing mix variables) as well as those of a standard MNL model with an exponentially smoothed loyalty measure. The hybrid model offers an index of consumer heterogeneity and estimates of each brand's "preference share", adjusted for the effects of price and promotional activities. |
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