The Behavioural Economics of Brand Choice

by Foxall, Gordon R.; Olivera-Castro, Jorge M.; Schrezenmaier, Teresa C.; James, Vistoria K.

• ISBN13: 9780230006836
• ISBN10: 0230006833
• Format: Hardcover
• Copyright: 2007-08-15
• Publisher: Palgrave Macmillan

Summary

Understanding consumer choice is central to modern marketing, thought and practice. This volume presents a ground-breaking approach to the analysis of brand choice which is relevant to both marketing practice and social science. This unique analysis reveals the causes of consumer choice that underlie patterns of brand selection; the role of price and non-price elements of the marketing mix in influencing brand choice; a novel means of describing the structure of markets in terms of the combination of utilitarian and symbolic benefits consumers obtain from their purchases and a new means of analyzing consumer behaviour in terms of elasticity of demand.

Author Biography

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.OLIVERIA 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 behavioural economic principles to the analysis of consumer behaviuor.

VICTORIA JAMES is a Lecturer in Marketing and Strategy. Her research interests lie in the application of behavioural 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

Table of Contents

List of Tables	p. ix
List of Figures	p. xi
Preface	p. xiii
Acknowledgements	p. xix
Brand Choice in Behavioral Perspective	p. 1
The Substitutability of Brands	p. 23
Behavior Analysis of Consumer Brand Choice: A Preliminary Analysis	p. 54
The Behavioral Ecology of Consumer Choice: How and What Do Consumers Maximize?	p. 71
The Behavioral Economics of Consumer Brand Choice: Establishing a Methodology	p. 100
The Behavioral Economics of Consumer Brand Choice: Patterns of Reinforcement and Utility Maximization	p. 125
Patterns of Consumer Response to Retail Price Differentials	p. 165
Dynamics of Repeat-Buying for Packaged Food Products	p. 198
Consumer Brand Choice: Individual and Group Analyses of Demand Elasticity	p. 223
Deviations from Matching in Consumer Choice	p. 256
Author Index	p. 290
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