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2014-Patel-Schlijper-Models of Consumer Behavior

Author(s): Shail Patel

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Keywords: consumer behavior market share

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Abstract

Resource Image The problem posed to the Study Group was to construct models for consumer behaviour that might be useful in tools for brand management in markets for fast-moving consumer goods.

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Patel, Shail and Antoine Schlijper.  2014. Models of Consumer Behavior. Unilever. Paper. 63 pp.

https://www.yumpu.com/en/document/view/27603227/models-of-consumer-behaviour-shail-patel-and-antoine-schlijper-  Accessed 29 March 2023.

The problem posed to the Study Group was to construct models for consumer behaviour that might be useful in tools for brand management in markets for fast-moving consumer goods. Such models must take into account various psychological and sociological factors that describe respectively how consumers are influenced by what is on sale and who else is already buying. The outputs of the models should be predictions for the division of market share between competing products. Two phenomena of particular interest for assessing modelling options are the ‘decoy effect’ and ‘lock-in’.

Keywords: differential equation, model, systems, consumer, consumer behavior

 

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Author(s): Shail Patel

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