Strategic Use of Preference Stability Information for Product Evaluation

Abstract

Preference stability can be a useful and supportive indicator for making strategic and tactical marketing decisions as it can assist short- and longer-term choices regarding product/brand characteristics and attributes. We provide a measurement approach combined with a model for strategic product/brand development decisions and subsequent marketing actions. Managers could use such insights when contrasting different attributes (e.g., design vs. camera of mobile phones) and also when making decisions about characteristics (e.g., different degrees of camera resolution of mobile phones). Such insights shall guide managers on where to invest and on how to leverage consumer preferences more effectively to generate sales for the company. We illustrate the use of our model of preferences and preference stability of product characteristics in three complementary studies (assessing yoghurt, energy drinks, and mobile phones).