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In a recent joint paper, “The Context of Construction as a Determinant of the Stability of Consumer Preference” (Yoon, 2005, doctoral dissertation, Stanford University, CA). Asst Prof Yoon Song Oh from the Lee Kong Chian School of Business looks at the issue of how consumer choice of a particular brand of product is affected by the presence of alternative brands. Traditional economic theories assume that consumers have well-defined preferences and their product choices are driven solely by the attributes of the product. However, experiences suggest that consumers’ choices are often context dependent. In particular, the choice often depends on the availability of competing brands and whether these alternatives are perceived to be inferior or superior...
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