2005-05-01Buch DOI: 10.18452/3894
A Market Basket Analysis Conducted with a Multivariate Logit Model
The following research is guided by the hypothesis that products chosen on a shopping trip in a supermarket can indicate the preference interdependencies between different products or brands. The bundle chosen on the trip can be regarded as the result of a global utility function. More specifically: the existence of such a function implies a cross-category dependence of brand choice behavior. It is hypothesized that the global utility function related to a product bundle results from the marketing-mix of the underlying brands. Several approaches exist to describe the choice of specific categories from a set of many alternatives. The models are discussed in brief; the multivariate logit approach is used to estimate a model with a German data set.
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Is Part Of Series: Sonderforschungsbereich 649: Ökonomisches Risiko - 28, SFB 649 Papers, ISSN:1860-5664