How do airlines buy aircraft? An empirical study of industrial buying behavior
Journal article
Bennett, D. and Anesbury, Z. (2020). How do airlines buy aircraft? An empirical study of industrial buying behavior. Marketing Letters.
| Authors | Bennett, D. and Anesbury, Z. |
|---|---|
| Abstract | This research is the first application of stochastic models to assess brand choice behavior in the B2B large commercial aircraft market. We model over 40,000 purchases from 1,222 airlines buying from 23 aircraft manufacturers between 1959 and 2019. The results show that the bedrock brand-buying empirical generalizations of double jeopardy, Negative Binomial Distribution, and the Duplication of Purchase law all describe buying behavior in the aviation market. The theoretical contribution is the novel extension of stochastic modeling to a capital goods context showing that airlines buy aircraft probabilistically, and that aggregate buying patterns conform to those established in previously studied markets. The managerial contributions are that most airlines are infrequent and polygamous buyers; therefore, aircraft manufacturers should set penetration as a strategic marketing goal and target all potential buyers. |
| Year | 2020 |
| Journal | Marketing Letters |
| Publisher | Springer |
| Publication process dates | |
| Accepted | 29 Jun 2020 |
| Deposited | 02 Jul 2021 |
| Accepted author manuscript | License File Access Level Open |
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