Tracking time-varying brand equity using household panel data
提出一种利用家庭面板数据追踪随时间变化的品牌资产的新方法，通过两阶段估计离散选择模型，考虑消费者异质性、状态依赖和价格内生性，为品牌管理提供动态决策支持。
This paper proposes a novel yet simple approach for tracking time-varying utility-based brand equity using household panel data. Our two-stage procedure allows us to estimate a discrete choice model that explicitly accounts for consumer heterogeneity, state dependence, price endogeneity, and dynamic brand equity. We present dynamic brand utility as a time-varying measure that adds to current market-based or mindset metrics. An empirical study of household purchases in the detergent category reveals that brand equity varies over time. The temporal changes in the brand equity of single brands and the differences across brands have significant implications for consumers’ brand choice and, consequently, for brand management. Therefore, the dynamic utility-based model offers valuable support for tracking a brand’s state, including the brand’s competition, and for making appropriate marketing decisions.