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Modeling Simultaneous Multiple Goal Pursuit and Adaptation in Consumer Choice / Joffre Swait, Jennifer Argo, and Lianhua Li.
// Journal of Marketing Research: June 2018, Vol. 55, No. 3. 2018.p. 352-367. Goals are constructs that direct choice behavior by guiding a decision maker toward desirable (or away from undesirable) end states. Often, consumers are motivated to satisfy multiple goals within a single choice. Although previous research has recognized this possibility, it has not directly formulated models of choice as a multigoal problem. The authors develop such a model, referred to as the multiple-goal-based choice model, which incorporates (1) simultaneous multiple goal pursuit and (2) context-driven goal adaptation but (3) does not require a priori identification of the number or nature of the goals. Goal adaptation within a single choice instance, allied to repeated choices, is the key to empirical identification of multiple latent goals. The proposed model is tested and supported using discrete choice experimental data on digital cameras through multiple validation exercises. The model can lead to significantly different policy implications with regard to consumers’ valuation for new product designs, compared with extant utility-based choice models.
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