Measuring Consumer Brand Preference

Abstract

This paper refers to the brand-preference parameters of a previously accepted empirical model, and axiomatically generates several basic propositions and their proofs, which define the retail store's most profitable short-run blend of product brands.In most free enterprise economies, we observe a collection of retail firms, which are generally not vertically integrated with producers, who provide the nexus between the producers and the consumers of goods. The operations of retail distribution create value for society, primarily by generating time and place utility. Hence, the industry is confronted with the critical decisions of location and the selection of products to be stocked. This paper is concerned with the latter decision, and presents several decision rules which the self-service retail firm may employ to maximize its short-run profits.Retail stores, particularly in food distribution, have become more capital intensive and less dependent on labor in striving for cost reductions and improved efficien-

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