Correcting the Illogicality in Probability Data of Mutually Exclusive Behaviours

Abstract

One application of the Verbal Probability Scale (VPS) that has immense value to marketers is its use in estimating market shares and customer preferences of mutually exclusive offerings. The literature on this application reveals illogicality in the data produced with the scale. Researchers have corrected the illogicality by employing a weighting technique. This technique enables the logical interpretation of data, albeit with certain ramification on the estimates. The current study investigated the extent to which the ramification affected the estimates. Comparisons were made between the weighted means produced on VPS with the means produced on a Constant Sum Scale (CSS), a scale that controls for illogical assignment of scores. The results showed that the weighted means were comparable to that produced on CSS for a set of mutually exclusive mobile phone payment plans. The paper discusses the implications of the results and future research needed for developing this particular application.