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Measuring Brand Awareness In A Random Utility Model

Author

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  • PIERFRANCESCO DOTTA

    (Department of Management, Ca’ Foscari University of Venice, Cannaregio 873, 30121 Venice, Italy)

  • MARCO TOLOTTI

    (Department of Management, Ca’ Foscari University of Venice, Cannaregio 873, 30121 Venice, Italy)

  • JORGE YEPEZ

    (Department of Economics, Ca’ Foscari University of Venice, Cannaregio 873, 30121 Venice, Italy)

Abstract

Brand awareness is recognized to be an important determinant in shaping the success of durables [13, 16], yet it is very difficult to be quantified. This is exactly the main goal of this paper: propose a suitable model where brand awareness of two competing firms is modeled and, eventually, estimated. To this aim, we build a random utility model for a duopoly where each competitor is characterized by different pricing strategies and brand awareness. As a result, different levels of market shares will emerge at the equilibrium. As a case study, we calibrate the model with real data from the smartphone industry obtaining an estimate of the value of the brand awareness of two leading brands.

Suggested Citation

  • Pierfrancesco Dotta & Marco Tolotti & Jorge Yepez, 2017. "Measuring Brand Awareness In A Random Utility Model," Advances in Complex Systems (ACS), World Scientific Publishing Co. Pte. Ltd., vol. 20(02n03), pages 1-11, March.
    • Handle: RePEc:wsi:acsxxx:v:20:y:2017:i:02n03:n:s0219525917500047
    DOI: 10.1142/S0219525917500047
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    References listed on IDEAS

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    1. O'Cass, Aron & Siahtiri, Vida, 2013. "In search of status through brands from Western and Asian origins: Examining the changing face of fashion clothing consumption in Chinese young adults," Journal of Retailing and Consumer Services, Elsevier, vol. 20(6), pages 505-515.
    2. Paolo Pellizzari & Elena Sartori & Marco Tolotti, 2015. "Trade-In Programs in the Context of Technological Innovation with Herding," Lecture Notes in Economics and Mathematical Systems, in: Frédéric Amblard & Francisco J. Miguel & Adrien Blanchet & Benoit Gaudou (ed.), Advances in Artificial Economics, edition 127, pages 219-230, Springer.
    3. Frank M. Bass, 1969. "A New Product Growth for Model Consumer Durables," Management Science, INFORMS, vol. 15(5), pages 215-227, January.
    4. Frédéric Amblard & Francisco J. Miguel & Adrien Blanchet & Benoit Gaudou, 2015. "Advances in Artificial Economics," Post-Print hal-03209315, HAL.
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