Abstract
This study focuses on improving multifunctional product development. Instead of face-to-face or other survey methods, we used text mining of online reviews to confirm which characteristics consumers prefer. The reference probability (importance), and the difference between positive and negative opinions (satisfaction) were indexed. By linking “importance” and “satisfaction” with a product’s quantitative performance, the correlation between satisfaction and quantitative performance was confirmed, and the method of setting a product’s design requirements was presented. To verify the validity of the method, we used the subcompact SUV (Sports Utility Vehicle) market in South Korea as a case study. The average importance and satisfaction with each performance aspect of the cars in the market was extracted, and the successful entry of new products in the market, which reflects these market characteristics, was confirmed. The proposed methodology is meaningful in that it reduces the risk (biased, inefficient) of existing consumer survey methods by utilizing big data to identify consumer preferences. Companies can use these findings during the product development process to improve customer satisfaction. This study improves product development methods by combining them with the latest advances in big data-related technologies.
Highlights
Modern products do not perform only one single function
We proposed a method to quantify customer needs by utilizing online reviews
We proposed a method to quantify customer needs by utilizing online reviews to to clarify customer demand characteristics and functional needs from a company’s perspective at clarify customer demand characteristics and functional needs from a company’s perspective at the the product development stage
Summary
Modern products do not perform only one single function. While a product’s main function may be performed sufficiently, consumers’ evaluations of products in the market could be affected by their perception of how additional or secondary functions of the product perform. Different smartphones in the market have different performance distributions for functions in the product, and consumers’ preferences change depending on the distribution. Quantitative and qualitative increases in product functions begin with the needs of the customer, and the importance of understanding these needs has become more important. This change is more apparent when looking at how products are distinguished in the marketing field. Moriarty and Kosnik set a product on two axes, technical uncertainty and
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