People, Preferences & Prices: Sequencing the Economic Genome of the Consumer Mind

Author(s): Eugene Galanter, Howard Moskowitz and Matthias Silcher

DOI: 10.2174/978160805249311101010078

So Many Choices ... So Little Time... Which should I Choose?

Pp: 78-92 (15)

Buy Chapters

* (Excluding Mailing and Handling)

  • * (Excluding Mailing and Handling)

Abstract

SHS investigation development is considered from the geographical and historical viewpoint. 3 stages are described. Within Stage 1 the work was carried out in the Department of the Institute of Chemical Physics in Chernogolovka where the scientific discovery had been made. At Stage 2 the interest to SHS arose in different cities and towns of the former USSR. Within Stage 3 SHS entered the international scene. Now SHS processes and products are being studied in more than 50 countries.

Abstract

Experimental psychologists, consumer researchers, sensory specialists and a host of statistical mavens, gurus use paired comparisons, a form of choice, as the fundamental way to measure consumer response to stimuli. The origin of those approaches is, of course, the (incorrect) belief that the person cannot really act as a measuring instrument, and therefore the next best thing is to have people choose among alternatives. Our approach is far different. We certainly believe that people can act as measuring instruments. We show the elements of offers ‘head to head’. Rather than measuring the contributory effect of each stimulus element to one response, we measure the simultaneous contributory effects of all stimulus elements to all responses. We use the choice modeling to determine how the elements interact with each other, how they drive positive and negative responses.

Recommended Chapters

We recommend

Favorable 70-S: Investigation Branching Arrow

Authors:Bentham Science Books