Market choices driven by reference groups. An evolutionary approach

The present paper tries to answer analytically how much the reference group influence can affect an actual market share of a particular brand or product. It is found that the increase of the size of a reference group and the probability of following the majority within the reference group may lead t...

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Detalles Bibliográficos
Autor principal: Ramsza, Michał
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Berlin Heidelberg 2015
Materias:
Regular Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5253722/
https://www.ncbi.nlm.nih.gov/pubmed/28163390
http://dx.doi.org/10.1007/s00191-015-0402-z
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author Ramsza, Michał
author_facet Ramsza, Michał
author_sort Ramsza, Michał
collection PubMed
description The present paper tries to answer analytically how much the reference group influence can affect an actual market share of a particular brand or product. It is found that the increase of the size of a reference group and the probability of following the majority within the reference group may lead to the temporary modest prevalence of one brand. This result requires a relatively large size of a reference group and a high probability of following the majority within the reference group. If these conditions are not satisfied the effect on the market share is negligible.
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spelling pubmed-52537222017-02-03 Market choices driven by reference groups. An evolutionary approach Ramsza, Michał J Evol Econ Regular Article The present paper tries to answer analytically how much the reference group influence can affect an actual market share of a particular brand or product. It is found that the increase of the size of a reference group and the probability of following the majority within the reference group may lead to the temporary modest prevalence of one brand. This result requires a relatively large size of a reference group and a high probability of following the majority within the reference group. If these conditions are not satisfied the effect on the market share is negligible. Springer Berlin Heidelberg 2015-04-01 2015 /pmc/articles/PMC5253722/ /pubmed/28163390 http://dx.doi.org/10.1007/s00191-015-0402-z Text en © The Author(s) 2015 https://creativecommons.org/licenses/by/4.0/ Open AccessThis article is distributed under the terms of the Creative Commons Attribution License which permits any use, distribution, and reproduction in any medium, provided the original author(s) and the source are credited.
spellingShingle Regular Article
Ramsza, Michał
Market choices driven by reference groups. An evolutionary approach
title Market choices driven by reference groups. An evolutionary approach
title_full Market choices driven by reference groups. An evolutionary approach
title_fullStr Market choices driven by reference groups. An evolutionary approach
title_full_unstemmed Market choices driven by reference groups. An evolutionary approach
title_short Market choices driven by reference groups. An evolutionary approach
title_sort market choices driven by reference groups. an evolutionary approach
topic Regular Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5253722/
https://www.ncbi.nlm.nih.gov/pubmed/28163390
http://dx.doi.org/10.1007/s00191-015-0402-z
work_keys_str_mv AT ramszamichał marketchoicesdrivenbyreferencegroupsanevolutionaryapproach

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