What can you tell about consumer buying behavior in this category
Question 1
Suppose you are the market analyst of a chocolate company. Your company owns brand 6 in this category. You have been given a data set of 1,900 shoppers, which reports for each shopper his/her purchases of a set of brands over one year (data for question 1).
Complete the tasks below.
Calculate the market share, penetration, and purchase frequency
Describe the Double Jeopardy (DJ) pattern. Is there DJ pattern in this category?
Fit the Dirichlet model to the data and discuss the overall fit of the Dirichlet model.
What can you tell about consumer buying behavior in this category?
How does your brand perform in this category? Discuss the managerial implications when looking to grow your brand.
Management "A social scientist named William McPhee, back in the 1960’s, coined the term double jeopardy to describe people’s likability and tendencies toward certain behaviors. Andrew Ehrenberg, a marketing statistician, after a few years then, applied the term purely in the marketing world.Double Jeopardy is a phenomenon or an empirical law in which brands with lower markets shares suffer b...
"A social scientist named William McPhee, back in the 1960’s, coined the term double jeopardy to describe people’s likability and tendencies toward certain behaviors. Andrew Ehrenberg, a marketing statistician, after a few years then, applied the term purely in the marketing world.
Double Jeopardy is a phenomenon or an empirical law in which brands with lower markets shares suffer both from low purchases and low brand loyalty, that is, in simple terms, less popular brands not only have fewer buyers, but also have fewer loyal customers compared to popular brands."
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