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Printable Handouts
Navigable Slide Index
- Introduction
- Trade-up in the world of consumer goods
- Trade-up is a jump
- Trade-up products are superior - example
- Trade-up also occurs within narrower price bands
- Trade-down
- Requirements of the trade-up model
- 3 aspects of the model
- Peter Van Westendorp's Method
- Economics of the MNL logit model
- Economics of the nonhomothetic model
- Nonhomothetic model (1)
- Nonhomothetic model (2)
- Affordability
- Distribution of the budget constraint
- Factors to consider with expenditure (1)
- Maximum expenditure and observed paid price
- Factors to consider with expenditure (2)
- Expenditure as a function of various factors
- Preference
- What is preference?
- Example: preference
- Trade-up (1)
- Trade-up (2)
- Indifference curves: classic substitution
- Indifference curves: income effects
- Trade-up (3)
- Example: trade-up penalty
- Geodemographic targeting
- Random effect specification
- Heat maps
- Identifying patterns in affordability
- Identifying likelihood to trade-up
- HB logit (MNL) vs. trade-up models (1)
- HB logit (MNL) vs. trade-up models (2)
- Key differences with MNL
- Audio device example
- HB logit and trade-up parameters
- Market share simulations
- Trade-up captures asymmetric price effects
- Reduction in expenditure: simulation
- Geodemographic targeting and max. expenditure
- Trade-up for product A6
- Health care example (1)
- Health care example (2)
- Model results
- Parameter table
- Results
- Differences between NHL and MNL models
- Price simulations
- Posterior distribution of expenditure
- Effect of sociodemographic parameters
- High-tech video impact on expenditure (1)
- High-tech video impact on expenditure (2)
- Estimation of expenditure threshold
- Direct modeling of expenditure
- Preference and trade-up vary by lifestage
- The pattern in the mid-tech tier
- Effect of professional recommendation
- Current practice of recommendation (1)
- Current practice of recommendation (2)
- Conclusions
- References
Topics Covered
- Pricing issues that arise in categories where there are differences in quality
- Introduction to a methodology for understanding budget constraints, price-value of product attributes and price power of superior goods
- Case studies in health and beauty, and consumer electronics categories
- Comparison to results obtained from standard choice and conjoint methods
Talk Citation
Garratt, M. (2010, January 27). Trade-up and trade-down: models for capturing change in consideration set [Video file]. In The Business & Management Collection, Henry Stewart Talks. Retrieved November 14, 2024, from https://doi.org/10.69645/UVUI7561.Export Citation (RIS)
Publication History
Trade-up and trade-down: models for capturing change in consideration set
Published on January 27, 2010
56 min
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