Research conducted over the last decade, on the influence of brand inertia or variety seeking on promotional response, has yielded mixed results. Variety seekers have been found to be more price‐sensitive by one set of researchers, while another stream of work finds them to be less sensitive....

The use of modeling and statistics for the design and development of pricing strategy is prevalent in academia as well as the industry. One of the more commonly used tools by researchers and managers alike for the estimation of linear demand models is the ordinary least squares (OLS) regression....