Purpose – This paper aims to extend a widely used stochastic model of purchase loyalty to include covariates such as demographics, psychographics and geodemographics. Potentially, this allows covariates to explain variations in brand performance measures (BPMs) such as penetration/reach,...

The literature from psychology and gerontology suggests that older persons have reduced cognitive abilities, and an increased risk aversion. On this basis, we predict that their decision process will be shrunk, in three manners: a smaller consideration set, a focus on the previous brand (leading...

Purchase decisions for hedonic products and services are often characterized by ambivalence -sensory benefits make them attractive, but consumers may feel guilty about bying them. To overcome this ambivalence, consumers frequently adopt strategies that allow them to enloy hedonic benefits while...