Modelling Consumer Decision States
Funding: 2004: $22,779
Funding or Partner Organisation: Australian Research Council (ARC Discovery Projects)
Start year: 2004
Summary: This research will examine the evolution of consumer decision states as products/categories mature and investigate how choice experiments can be developed to predict new product choices. Technological developments have made it feasible to expose large numbers of respondents to choice experiments enhanced with a process of Information Acceleration. A longitudinal experimental approach is proposed that monitors consumers' awareness, consideration and choice for one mature and two new products. This will allow for the developing of models that take into account the different rates at which consumers progress through decision states, leading to improved forecasts of new product trial and adoption.
FOR Codes: Business and Management, Marketing