The dynamics of brand equity: a hedonic regression approach to the laser printer market

The dynamics of brand equity: a hedonic regression approach to the laser printer market

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Article ID: iaor20125262
Volume: 63
Issue: 10
Start Page Number: 1351
End Page Number: 1362
Publication Date: Oct 2012
Journal: Journal of the Operational Research Society
Authors: ,
Keywords: statistics: regression, marketing
Abstract:

The authors develop a dynamic hedonic regression approach to measuring the evolution of a comparative brand premium (pairwise price difference between two products that are identical in all respects apart from the brand). In contrast to existing approaches, the proposed Bayesian estimation method exploits the premia's intertemporal dependence structure, resulting in a higher level of accuracy of the estimated time paths of the brand premia. In addition, the authors present a novel, but straightforward way to construct confidence bands that cover the entire time series of brand premia with high probability. The authors apply their approach to a large, detailed data set on laser printers, which was gathered on a monthly basis over a 4‐year period.

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