An Entropy Model of Brand Purchase Behavior
Open Access
- 1 November 1973
- journal article
- research article
- Published by SAGE Publications in Journal of Marketing Research
- Vol. 10 (4), 361-375
- https://doi.org/10.1177/002224377301000403
Abstract
A probabilistic model of consumer purchase behavior for frequently purchased, low cost items is presented. The concept of maximum entropy is used to specify the model. The only empirical data required are market shares; all other brand selection statistics, such as repeat and switch rates, are derived quantities.Keywords
This publication has 4 references indexed in Scilit:
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- The Use of the Concept of Entropy in System ModellingJournal of the Operational Research Society, 1970
- Information Theory and Statistical MechanicsPhysical Review B, 1957
- The Variational Principles of MechanicsPublished by University of Toronto Press Inc. (UTPress) ,1949