Household brand choice behavior in a product category is influenced not only by households' intrinsic preferences for different brands and the marketing mix variables that characterize them, but also, by state dependence effect, that is, influences of prior brand choices on current brand choices

Most marketing managers and academics will agree that scarce marketing resources should be allocated to create long-term rather than short-term impact on revenue and profitability

The availability of point-of-sale data for consumer packaged goods at the store level has created an interest among retailers and manufacturers to use this data to create elasticity-based pricing and promotion strategies