Expanding competence sets for the consumer decision problem

Ting Yu Chen*

*Corresponding author for this work

Research output: Contribution to journalJournal Article peer-review

13 Scopus citations

Abstract

The framework of competence set analysis provides a new approach to complement the existing models for the consumer decision problem. Since it is essential for the firm to improve the competence set of its product or service to fully address the consumer's truly needed benefits, the effective expansion of competence sets plays an important role in marketing reality. The previous studies regarding competence set expansion have thrown light on the tree expansion processes, but forest learning is more suitable for the acquisition of product benefits than tree learning. Thus, this study looses the assumption of tree learning and conducts forest learning to design an effective expansion program. In addition, this study explores a more general problem involving intermediate attributes, compound benefits, and experiential effects. An algorithm is also provided for effective expansion of competence sets in consumer decision analysis.

Original languageEnglish
Pages (from-to)622-648
Number of pages27
JournalEuropean Journal of Operational Research
Volume138
Issue number3
DOIs
StatePublished - 01 05 2002

Keywords

  • Competence set
  • Competence set expansion
  • Consumer decision
  • Experiential effect
  • Forest learning
  • Marketing

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