Statistical brand switching model: an Hidden Markov approach

K. Kumaraswamy () and N. Ch. Bhatracharyulu ()
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K. Kumaraswamy: Kaloji Narayana Rao University of Health Sciences
N. Ch. Bhatracharyulu: Osmania University

OPSEARCH, 2023, vol. 60, issue 2, No 15, 942-950

Abstract: Abstract Customer’s choice study described as the state of decisions and actions which influence the purchase behavior. The purchase process is influenced by inheritably hidden factors that create stimuli to purchase repeatedly or switching among the products. A statistical model is constructed to capture and quantify the relationships between the attitudes of the consumers. The statistical model used for the estimating the optimum possible sequence probabilities in repeat purchase and switching behavior.

Keywords: Consumer behavior; Hidden Markov model; Loyalty; Repeated purchase; Switching pattern (search for similar items in EconPapers)
JEL-codes: C13 C45 C61 M31 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s12597-022-00613-0

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