Application of hedonic price modeling to consumer packaged goods using store scanner data
This paper contributes to the marketing research literature by proposing an application of hedonic modeling to consumer packaged goods using store scanner data. While other studies have applied hedonic price modeling to CPG, the interpretation of their results might have been flawed. This paper, by proposing an extension of the traditional approach to account for sales quantity, makes the hedonic modeling results based on CPG scanner data acquire their intended interpretation. Hedonic modeling provides an additional alternative in the toolkit of the applied marketing researcher to assist revealing markets' relative preferences. To illustrate the use of hedonic modeling in CPG, the paper focuses on Premium Carbonated Soft Drinks. It uses a full year of weekly store scanner data from grocery stores sampled across the U.S.
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