The formation of consumer brand preferences
Bronnenberg,B.J.J.A.M. Dube,J.P.
Bronnenberg,B.J.J.A.M.
Dube,J.P.
Abstract
Brands and brand capital have long been theorized to play an important role in the formation of the industrial market structure of consumer goods industries. We summarize several striking empirical regularities in the concentration, magnitude, and persistence of brand market shares in consumer goods categories. We then survey the theoretical and empirical literatures on the formation of brand preferences and the ways in which brand preferences contribute to our understanding of these empirical regularities. We also review the literature on how brand capital creates strategic advantages to firms that own established brands.
Description
Date
2017-08
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Publisher
Research Projects
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Keywords
brand, brand capital, preferences, advertising, marketing, market structure, L11 - Production, Pricing, and Market Structure ; Size Distribution of Firms, L15 - Information and Product Quality ; Standardization and Compatibility, M31 - Marketing, M37 - Advertising
Citation
Bronnenberg, B J J A M & Dube, J P 2017, 'The formation of consumer brand preferences', Annual Review of Economics, vol. 9, pp. 353-382. https://doi.org/10.1146/annurev-economics-110316-020949