The Behavioral Economics of Brand Choice

by G. Foxall, Jorge M. Olivera-Castro, Teresa C. Schrezenmaier, V. James

Overview

This text presents a cutting edge approach to the analysis of brand choice, relevant to marketing practice and social science. This analysis reveals the causes of consumer choice that underlie brand selection; the role of price and non-price elements of marketing; a new way of describing the structure of markets and analyzing consumer behaviour.

Product Details

ISBN-13:	9780230006836
Publisher:	Palgrave Macmillan UK
Publication date:	06/27/2007
Edition description:	2007
Pages:	292
Product dimensions:	5.51(w) x 8.50(h) x 0.03(d)

About the Author

GORDON FOXALL is Distinguished Research Professor at Cardiff University, UK. He is a graduate of the Universities of Birmingham (PhD business) and Strathclyde (PhD psychology), and holds a higher doctorate of the University of Birmingham (DSocSc). He is a Fellow of both the British Psychological Society (FBPsS) and the British Academy of Management (FBAM), and an Academician of the Academy of Learned Societies for the Social Sciences (AcSS).

JORGE M.OLIVEIRA-CASTRO is an Associate Professor of Psychology at the University of Brasilia, Brazil. He is a graduate of the University of Brasilia (Psychologist and Masters) and Auburn University (PhD). His research interests lie in the experimental analysis of behaviour and in the application of learning and behavioral economic principles to the analysis of consumer behavior.

VICTORIA JAMES is a Lecturer in Marketing and Strategy. Her research interests lie in the application of behavioral psychology to consumer choice models. Her undergraduate work was at the University of Birmingham and she has also graduated from Cardiff University (Postgraduate Diploma) and Keele University (PhD Management).

TERESA SCHREZENMAIER works for Prophet, a leading brand strategy consultancy in London. She started her career as a Research Associate, working in the field of consumer psychology. Teresa is a graduate of Cardiff University where she gained a PhD in Marketing, exploring consumer brand choice through the lens of behavioraleconomics.

Table of Contents

Preface Brand Choice in Behavioral Perspective The Substitutability of Brands Behavior Analysis of Consumer Brand Choice: A preliminary analysis The Behavioral Ecology of Consumer Choice: How and what do consumers maximize The Behavioral Economics of Consumer Brand Choice: Establishing a methodology The Behavioral Economics of Consumer Brand Choice: Patterns of reinforcement and utility maximization Patterns of Consumer Response to Retail Price Differentials Dynamics of Repeat Purchasing for Packaged Consumer Products Consumer Brand Choice: Individual and group analyses of demand elasticity Deviations from Matching Law in Consumer Choice