Evaluation of price elasticity and brand loyalty in milk products

Natsuki Sano, Syusuke Tamura, Katsutoshi Yada, Tomomichi Suzuki

Research output: Contribution to journalConference article

1 Citation (Scopus)

Abstract

Basic necessities are generally said to be price inelastic in comparison with luxury goods. However, within the former group, it is not easy to differentiate between milk products using factors other price. Therefore, price could be an important factor when deciding between milk products. In this study, we verify the hypothesis that milk products are price elastic based on customer transaction data. If milk products are non-elastic in terms of price, we consider that people's choice of brand is decided by factors other than price, such as brand loyalty, which we then evaluate using a multinomial logit model.

Original languageEnglish
Pages (from-to)1482-1487
Number of pages6
JournalProcedia Computer Science
Volume35
Issue numberC
DOIs
Publication statusPublished - 1 Jan 2014
EventInternational Conference on Knowledge-Based and Intelligent Information and Engineering Systems, KES 2014 - Gdynia, Poland
Duration: 15 Sep 201417 Sep 2014

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Keywords

  • Brand loyalty
  • Milk products
  • Multinomial logit model
  • POS data
  • Price elasticity

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