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The Dynamics of Brand Loyalty: A Markovian Approach

Author

Listed:
  • Frank Harary

    (Research Center For Group Dynamics, The University of Michigan)

  • Benjamin Lipstein

    (Benton and Bowles, Inc., New York, New York)

Abstract

Our purpose is to attempt to apply the probabilistic methods of Markov chains to a systematic study of the phenomena of brand switching and brand loyalty. After summarizing the traditional basic concepts of Markov chains, we introduce concepts from the theory of directed graphs in order to provide a geometric and intuitive point of view. We then demonstrate that the set of all brands of a particular product category can be validly regarded as a concrete case of an abstract Markov chain. The implications of this approach for marketing strategy are also indicated. A simplified situation is employed to indicate various applications. This is followed by a discussion of real applications.

Suggested Citation

  • Frank Harary & Benjamin Lipstein, 1962. "The Dynamics of Brand Loyalty: A Markovian Approach," Operations Research, INFORMS, vol. 10(1), pages 19-40, February.
    • Handle: RePEc:inm:oropre:v:10:y:1962:i:1:p:19-40
    DOI: 10.1287/opre.10.1.19
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    Cited by:

    1. Rita Strohmaier & Marlies Schuetz & Simone Vannuccini, 2019. "A systemic perspective on socioeconomic transformation in the digital age," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 46(3), pages 361-378, September.
    2. Andres Kuusik, 2007. "Affecting Customer Loyalty: Do Different Factors Have Various Influences In Different Loyalty Levels?," University of Tartu - Faculty of Economics and Business Administration Working Paper Series 58, Faculty of Economics and Business Administration, University of Tartu (Estonia).

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