Original scientific paper
https://doi.org/10.1080/1331677X.2018.1442232
Econometric modelling of the consumer’s behaviour in order to develop brand management policies
Corina Rădulescu
; Faculty of Administration and Business, Department of Economic and Administrative Sciences, University of Bucharest, Bucharest, Romania
Oana Simona (Caraman) Hudea
; Faculty of Administration and Business, Department of Economic and Administrative Sciences, University of Bucharest, Bucharest, Romania
Abstract
Assuming that the value of a powerful brand lies in its capacity to
decrypt the consumers’ preference and fidelity, we undertake, in the
present study, to analyse the important criteria used when selecting
a shampoo brand, to outline the profile of such products and to
capture the dependence of the endogenous variable (the shampoo
brand selected by consumers), on the exogenous variables (Product
characteristics, Personal experience, Brand and Price) that the consumer
had in view when deciding to purchase an optimum product. This
paper, based on multiple regression equations, outlines the direction
and intensity of the dependence, using data arising from an opinion
poll, covering an 8-year period, carried out on an average population
of 8921 individuals. In essence, the present application reveals, an
appropriate method for acquiring a higher market share, to its largest
extent, the orientation towards consumer and product, price being a
subsidiary instrument, specific only to companies trying to maintain
themselves in the market. In contrast, a leader, a challenger or a
pursuing company should be highly flexible, ready to continuously
adapt their brand to the ever-changing consumers’ needs.
Keywords
Trade mark; brand image; brand selection criteria; consumer’s profile; econometric modelling
Hrčak ID:
200692
URI
Publication date:
3.12.2018.
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