In previously published papers it was shown that consumers often acquire financial products in the same order. Knowledge on such acquisition patterns is useful for marketing purposes. This study aims to define optimal utilisation of the acquisition pattern approach for cross-sell purposes. The proposed approach borrows a psychometric tool, the Mokken scale analysis, to investigate acquisition patterns. The sequential logit decision model is used to establish which clients found at a certain step in an acquisition pattern are most likely to acquire the next product found in such an order. The study focuses on this particular application of the sequential logit decision model.
|Number of pages||11|
|Journal||Journal of targeting, measurement and analysis for marketing|
|Publication status||Published - 2001|