Latent variable modelling of discrete choice experiments. Discrete choice experiments and models are used to forecast consumer responses to changes in products policies and programs worldwide. Recent research suggests key model assumptions are violated because error variances covary with observed and unobserved factors. In order to address this, we will model systematic relationships between error variances and observed (eg, prices, survey length) and unobserved (eg, 'convenience', 'reputation') ....Latent variable modelling of discrete choice experiments. Discrete choice experiments and models are used to forecast consumer responses to changes in products policies and programs worldwide. Recent research suggests key model assumptions are violated because error variances covary with observed and unobserved factors. In order to address this, we will model systematic relationships between error variances and observed (eg, prices, survey length) and unobserved (eg, 'convenience', 'reputation') factors to improve model reliability and accuracy. This should lead to more accurate models/forecasts, benefitting business and government, which addresses the national priority of 'frontier technologies, promoting an innovative culture and economy'.Read moreRead less
Modelling the Choices of Individuals. Individuals make decisions daily and some of these decisions have wide-reaching and long-term consequences, such as choices among housing, public transport, electoral candidates and health care options. The principal aim of this project is to develop reliable and valid ways to model individual level choice processes. Once completed, this will provide insights into ways to aggregate sampled observations when population-level applications are required, and all ....Modelling the Choices of Individuals. Individuals make decisions daily and some of these decisions have wide-reaching and long-term consequences, such as choices among housing, public transport, electoral candidates and health care options. The principal aim of this project is to develop reliable and valid ways to model individual level choice processes. Once completed, this will provide insights into ways to aggregate sampled observations when population-level applications are required, and allow us to compare and test several competing theories of choice behaviour. This will enable us to make contributions to understanding and modelling human decision making in many fields ranging from marketing to medicine.Read moreRead less
Special Research Initiatives - Grant ID: SR0354611
Funder
Australian Research Council
Funding Amount
$30,000.00
Summary
Management and Consumer Decision Making Network. This network brings together a multi-disciplinary research group to enhance frontier science in managerial/consumer decision making and choice behaviour. Our focus will on using our interaction to develop normative and descriptive theory by operationalising theories and methods from a mixture of disciplines. Individual/group decisions/choices underlie many aggregate societal phenomena like election outcomes, consumer demand, technology adoption, ....Management and Consumer Decision Making Network. This network brings together a multi-disciplinary research group to enhance frontier science in managerial/consumer decision making and choice behaviour. Our focus will on using our interaction to develop normative and descriptive theory by operationalising theories and methods from a mixture of disciplines. Individual/group decisions/choices underlie many aggregate societal phenomena like election outcomes, consumer demand, technology adoption, etc. Better understanding of such processes will lead to better models, better forecasts and better decision outcomes for Australia, and smarter use of information and data; something that can only come from a multi-disciplinary interaction of theory and method.Read moreRead less
Turning Under-Used Geo-Referenced Data Sources into Business Success. This project focuses on market segmentation and planning strategy through the development of under-used geo-referenced data sources. Specifically, the project seeks to combine two key market intelligence software tools (Geographical Information Systems (GIS) and Data Mining Systems) with the primary focus being on the Australian automobile industry. Spatial data mining approaches will be used to sift through massive volumes o ....Turning Under-Used Geo-Referenced Data Sources into Business Success. This project focuses on market segmentation and planning strategy through the development of under-used geo-referenced data sources. Specifically, the project seeks to combine two key market intelligence software tools (Geographical Information Systems (GIS) and Data Mining Systems) with the primary focus being on the Australian automobile industry. Spatial data mining approaches will be used to sift through massive volumes of data, uncover patterns, and generate knowledge through effective database management techniques. This research will open new inter-disciplinary frontiers between marketing and GIS, with the outcomes expected to provide valuable information for decision makers at the academic, industry and governmental levels.Read moreRead less
Developing demand-side strategies for sustainable futures at the business and consumer levels. Australia is facing a world in which the material demands of developing nations are putting pressure on global resources, at the same time as effects of economic activity on the earth's climate are leading to questions about the planet's sustainability. Efforts to mandate changes in consumption patterns are likely to be politically unpopular and lead to a loss of social welfare. This research will in ....Developing demand-side strategies for sustainable futures at the business and consumer levels. Australia is facing a world in which the material demands of developing nations are putting pressure on global resources, at the same time as effects of economic activity on the earth's climate are leading to questions about the planet's sustainability. Efforts to mandate changes in consumption patterns are likely to be politically unpopular and lead to a loss of social welfare. This research will investigate ways in which choices between current and future consumption can be framed to maximize voluntary consumer choices for sustainable futures. It will allow the demand side of negative environmental trends to be addressed, reducing the pressure on the supply side without the loss of consumer sovereignty.Read moreRead less
The Determinants and Impacts of Analyst Activity in Australian Equity Markets. Deep and liquid markets are essential ingredients to a well functioning capital market, and can assist in capital formation and the growth of firms. A rich information environment is in turn necessary to ensure liquidity and the minimisation of cost of capital. A greater understanding of what promotes a rich information environment, specifically through the activity of financial analysts, will assist in formulation ....The Determinants and Impacts of Analyst Activity in Australian Equity Markets. Deep and liquid markets are essential ingredients to a well functioning capital market, and can assist in capital formation and the growth of firms. A rich information environment is in turn necessary to ensure liquidity and the minimisation of cost of capital. A greater understanding of what promotes a rich information environment, specifically through the activity of financial analysts, will assist in formulation of policies at both the Australian Stock Exchange and individual company level, and indeed at the government level given Federal and State Government initiatives to encourage the growth of corporate Australia.Read moreRead less
Patterns of Buyer Behaviour in China. A mainstream interest of marketers is the study of buyer behaviour (i.e., brand choice, repeat-purchase, switching, loyalty, segmentation, etc.) Much is known. But virtually all of this knowledge comes from Western studies. Yet non-Western nations, such as China, are now immensely important trading partners for the West.
This is the first systematic study of buyer behaviour in China to be based on formal analyses of consumer panel data. An assessment wil ....Patterns of Buyer Behaviour in China. A mainstream interest of marketers is the study of buyer behaviour (i.e., brand choice, repeat-purchase, switching, loyalty, segmentation, etc.) Much is known. But virtually all of this knowledge comes from Western studies. Yet non-Western nations, such as China, are now immensely important trading partners for the West.
This is the first systematic study of buyer behaviour in China to be based on formal analyses of consumer panel data. An assessment will be made of how our analytical models, and associated findings, extend to new conditions (e.g., new geographical markets, sub-regions, traditional Chinese goods, different groups of buyers, etc.).Read moreRead less
Linking Brand Equity Modelling and Measurement with Behavioural and Affective Consumer Decision Processes. Brand equity monitoring often fails to account for image-related and habit-entrenched consumer decision rules. This research takes an established brand equity monitoring tool, A C Nielsen's Winning Brands, and incorporates work on decision heuristics into it. Heuristics occur when consumers simplify their decision task using rules sub-optimal with respect to selecting their preferred alte ....Linking Brand Equity Modelling and Measurement with Behavioural and Affective Consumer Decision Processes. Brand equity monitoring often fails to account for image-related and habit-entrenched consumer decision rules. This research takes an established brand equity monitoring tool, A C Nielsen's Winning Brands, and incorporates work on decision heuristics into it. Heuristics occur when consumers simplify their decision task using rules sub-optimal with respect to selecting their preferred alternative, but effective in terms of reducing cognitive effort. The project will conduct a meta-analysis of over 250 branding strategies followed by a new data collection and latent segmentation analysis. The result will be a more comprehensive decision support tool for brand development, focusing management actions and improving marketing efficiency.Read moreRead less
A cognitive model for identifying optimal measures of beliefs. Belief measures are of high practical relevance. One current national example is measurement of beliefs about recycled water, which will affect state and territory governments' water conservation policies. Another is cultural values, measures of which can form the basis for initiatives to improve social harmony in Australia. The knowledge gained, however, is only as good as the validity of the belief measure employed. We will analyse ....A cognitive model for identifying optimal measures of beliefs. Belief measures are of high practical relevance. One current national example is measurement of beliefs about recycled water, which will affect state and territory governments' water conservation policies. Another is cultural values, measures of which can form the basis for initiatives to improve social harmony in Australia. The knowledge gained, however, is only as good as the validity of the belief measure employed. We will analyse the main types of measures used at present and develop improved belief measures which, when published, will increase the quality of research in the social sciences and enhance Australia's international scientific reputation.Read moreRead less
Measuring Marketing Effectiveness: State of the Art, Current Practice and Areas of Leverage. Marketing performs a useful role in society by identifying customer needs, focusing the resources of the firm towards meeting those needs, and communicating to customers how best to access the products available to fulfill their needs. Without good metrics marketing is fragmented and ineffective. By improving the measurement of marketing effort there will be less waste, resulting in higher profits and ....Measuring Marketing Effectiveness: State of the Art, Current Practice and Areas of Leverage. Marketing performs a useful role in society by identifying customer needs, focusing the resources of the firm towards meeting those needs, and communicating to customers how best to access the products available to fulfill their needs. Without good metrics marketing is fragmented and ineffective. By improving the measurement of marketing effort there will be less waste, resulting in higher profits and greater focus and improved customer satisfaction within Australian markets. In global markets, Australian firms will have access to the tools necessary to assist them to better meet the needs of overseas' customers, resulting in improved export performance.Read moreRead less