Indexing product quality: Issues, theory, and results.

摘要: Jn "The Concept of Quality and the Efficiency Markets for Consumer Products," Hjorth-Andersen (1984) strongly condemns use overall productquality rankings, such as those published by Reports, a basis scientific research. His primary criticism is that creating an index quality weighted average subscores usually misleading. He claims this averaging process unjustified except brands occupy approximately same rank position on each attribute. This article reviews Hjorth-Andersen's arguments identifies several important related questions ratings in academic Statistical theory developed to demonstrate conclusions are limited, examine precise conditions under which his hold. Empirical evidence presented reveals statistical frequency real markets logical deduced using our theory. Our differ significantly from drawn HjorthAndersen. A debate about efficacy indices relevant not only research but also consumer welfare strategic marketing planning. choice affected (Archibald, Haulman, Moody 1983; Beales et al. 1981; Thorelli 1977). Commercial importance evident widespread distribution magazines like Reports. The testing movement, started 1927 Chase Schlink, has spread agencies more than 50 nations. These members International Organization Consumers Unions (IOCU), combined circulation their millions. Published influence research: literature review' identified 30 studies objective data draw inferences price versus tradeoffs, advertising interactions, changes over product life cycles, brand switching, market efficiency, rational judgments. Since review concentrated economics literature, it likely role been underestimated. In any case, researchers can should assist understanding sources potential error scales. Strategic research, conducted Planning Institute at Harvard University, focused management attention performance measures share rate-of-return investment. For example, Phillips, Chang, Buzzell (1983) indicate influences firm's directly its investment indirectly through (see Day 1986; Farris Reibstein 1979; Urban 1984). It future define coherently measure accurately construct quality.