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Erschienen in:
2019 | OriginalPaper | Buchkapitel
13. Choice Modeling
verfasst von : Chris Chapman, Elea McDonnell Feit
Erschienen in: R For Marketing Research and Analytics
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Abstract
Much of the data we observe in marketing describes customers purchasing products. For example, as we discussed in Chap. 12, retailers now regularly record the transactions of their customers. In that chapter, we discussed analyzing retail transaction records to determine which products tend to occur together in the same shopping basket. In this chapter we discuss how to analyze customers’ product choices within a category to understand how features and price affect which product a customer will choose. For example, if a customer comes into the store and purchases a 30 oz. jar of Hellman’s brand canola mayonnaise for $3.98, we can conceptualize this as the customer choosing that particular type of mayonnaise among all the other mayonnaise available at that store. This data on customers’ choices can be analyzed to determine which features of a product (e.g., package size, brand, or flavor) are most attractive to customers and how they trade off desirable features against price.