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A Parsimonious Model of Stockkeeping-Unit Choice
Teck-Hua Ho and Juin-Kuan Chong
Journal of Marketing Research
Vol. 40, No. 3 (Aug., 2003), pp. 351-365
Published by: American Marketing Association
Stable URL: http://www.jstor.org/stable/30038864
Page Count: 15
You can always find the topics here!Topics: Shopping, Modeling, Parametric models, Marketing, Brands, Saliency, Flavors, Consumer research, Datasets, Product choice
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The authors develop a model to describe and predict consumer stockkeeping-unit choice in frequently bought product categories. The model posits that a product category consists of several salient attributes with many attribute levels and represents a stockkeeping unit as an attributelevel combination. The number of parameters of the model does not increase with the number of stockkeeping units and the number of attribute levels. The authors demonstrate the descriptive and predictive power of their model using 133,492 purchase incidences in 16 product categories. Their model fits 7% better in sample and predicts 8% better out of sample in hit probability than two leading models and requires only half the number of parametes.
Journal of Marketing Research © 2003 American Marketing Association