MEASURING BRAND AWARENESS IN A RANDOM UTILITY MODEL

Pierfrancesco Dotta (), Marco Tolotti and Jorge Yepez ()
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Pierfrancesco Dotta: 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

Advances in Complex Systems (ACS), 2017, vol. 20, issue 02n03, 1-11

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.

Keywords: Random utility model; social interactions; discrete choice model; duopoly; brand awareness (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1142/S0219525917500047

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