The stochastic modeling of purchase intentions and behavior

Article Abstract:

Actual purchasing behavior and planned purchasing have differences and these are taken into consideration through an estimation model for determining the demographic/psychographic correlates of behavior using purchasing plans. An hierarchical Bayes technique can be employed to attain maximal pooling of data across brands when data on multiple brands from a common product class are given. The said estimation technique can be very helpful in enhancing the accuracy of estimates of the relationship of the covariates and actual purchase behavior as illustrated using simulated data and data from a marketing study. This ability to improve the application of intentions data may result to more accurate market segmentation and therefore, enhanced marketing management decisions.

Purchasing Management, Purchasing, Usage, Stochastic analysis, Bayesian statistical decision theory, Bayesian analysis

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A generic model of competitive dynamics

Article Abstract:

Using catastrophe theory, this article presents a generic model of competitive dynamics that allows for the integration of structural (industry inertia) and process (relative competitive force) components of competitive dynamics found in the marketplace. More specifically, this article presents a cusp catastrophe model to account for the variety of ways changes in competitive position can occur among competing businesses in an industry, and it builds on the growing body of catastrophe applications to organizational and managerial contexts. (Reprinted by permission of the publisher.)

Research, Management, Corporations, Management research

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Strategy maps: a spatial representation of intra-industry competitive strategy

Article Abstract:

Strategy maps can help businesses in competitive environments. They show complex relationships among players and the results of strategies and performance. Models can be developed from these maps which analyze the simultaneous, multidimensional, and interrelated actions of business strategy and groups of businesses with an industry. A multidimensional scaling methodology is described, as are the tradeoffs of achieving performance goals, and the weighted importance of various strategies.

Business planning, Strategic planning (Business), Game theory, Games of strategy (Mathematics)

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