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An Entropy Model of Brand Purchase Behavior
Jerome D. Herniter
Journal of Marketing Research
Vol. 10, No. 4 (Nov., 1973), pp. 361-375
Published by: American Marketing Association
Stable URL: http://www.jstor.org/stable/3149383
Page Count: 15
You can always find the topics here!Topics: Brands, Entropy, Market share, Customers, Modeling, Marketing, Lagrange multipliers, Matrices, Probabilistic modeling, Statistical models
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A probabilistic model of consumer purchase behavior for frequently purchased, low cost items is presented. The concept of maximum entropy is used to specify the model. The only empirical data required are market shares; all other brand selection statistics, such as repeat and switch rates, are derived quantities.
Journal of Marketing Research © 1973 American Marketing Association