This
finding is consistent with the marketing literature whereby the main appeal of store
brands is their low price, and so these brands are competing on price and focusing
their marketing strategy on price-sensitive shoppers (e.g., Hoch, 1996; Sivakumar,
1996). Table 3 shows the fitness and predictive value for the MNL model. A high
value of r
2
can be observed (0.6548), indicating that the model explains around 65%
of consumer choice behavior