ANALYSIS OF CONSUMERS DEPTH OF REPEAT PURCHASING PATTERN: AN EXPLORATORY STUDY OF BEVERAGES BUYING BEHAVIOUR DATA

Akomolafe A.A

Department of Mathematics and Statistics

Joseph Ayo Babalola University, Ilesa, Osun State

E-mail: akomolafea@yahoo.com

ABSTRACT

Existing research on tracking relied on cumulative buying behavior data. In order to provide a significant improvement to the degree of prediction and its acceptability, depth of repeat buying behavior was used as a remarkable improvement thus showcasing the instability of consumer buying behavior. The model was developed and maximum likelihood estimation techniques was used to estimate parameters from the data culled from standard wholesales outlets of beverages. Result from the empirical test about the structure of repeat buying for the new packaged goods. The findings provide a foundation for test-market forecasting and offer much stronger support for the model’s validity than a single cohort analysis can provide.

Keywords: Consumer buying behavior, depth of repeat, maximum likelihood estimate, forecasting