Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/66184
Type: | Journal article |
Title: | Qualifying Purchase Intentions Using Queueing Theory |
Author: | Tirtiroglu, E. Elbeck, M. |
Citation: | Journal of Applied Quantitative Methods, 2008; 3(2):167-178 |
Publisher: | Asociatia pentru Dezvoltare prin Stiinta si Educatie |
Issue Date: | 2008 |
ISSN: | 1842-4562 |
Statement of Responsibility: | Ercan Tirtiroglu, Matt Elbeck |
Abstract: | We propose that a consumer’s purchase behaviour emulates a cognitive framework such that an appropriately selected queueing model can be used to assess the credibility of a consumer’s expression of purchase intention to proceed into purchase action. The modelling idea is to envision that the customer has a mental queue of needs, and the surfacing of a need represents a new arrival to this queue while a purchase satisfying a need represents a departure from the queue. Using queueing formulae (and/or readily available tables on queueing), several statistics known as "operating characteristics" can be computed to capture and describe the individual’s current need status. Hence, a description of the customer’s state of readiness or prospect of actually executing the expressed purchase intention for a product (good or service) whose future sales are of interest in a market survey may be obtained. In this paper, such a description is termed Individual Buyer Profile (IBP), and IBP is offered as a purchase intention qualifier. |
Keywords: | IBS queueing purchase behaviour purchase intention qualifier |
Rights: | Copyright © JAQM, 2008. All Rights Reserved. |
Appears in Collections: | Aurora harvest Business School publications |
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