Abstract

Estimating the volume demand of fast-moving consumer goods (FMCGs) is well established and the evidence of a price elasticity of demand is widely accepted by marketing scholars and practitioners alike (Foxall et al., 2013). The purpose of this chapter is to explore other aspects of marketing and psychological variables which may influence consumer behavior above and beyond that of price elasticity. The “law-like” marketing phenomenon of double jeopardy and psychologically based aspects of the Behavioral Perspective Model are combined with the concept of price elasticity to better understand consumer behavior choices.