Market Research Techniques Research Articles

A Review on Marketing Research and Information in Pharmacy

The pharmaceutical industry is highly competitive, and marketing research plays a crucial role in shaping effective strategies for pharmaceutical products. This review provides an in-depth analysis of the importance and application of marketing research and information systems within the pharmacy sector. The report explores various research methods and data collection tools used to gather valuable insights, such as surveys, focus groups, and observational studies. It also examines the significance of market segmentation, consumer behavior, and the impact of digital marketing in promoting pharmaceutical products. Additionally, the review discusses the challenges faced by the pharmaceutical industry, including regulatory hurdles, ethical concerns, and data privacy issues, while highlighting the role of marketing research in overcoming these challenges. By reviewing the integration of marketing information systems and technology, the report sheds light on how pharmacies can improve their decision-making processes, product offerings, and overall customer satisfaction. The findings underscore the necessity of utilizing comprehensive market research techniques to drive growth, increase market share, and enhance the long-term sustainability of pharmaceutical businesses

Directions for Effective Use of Modern Marketing Research in Increasing the Export of Leguminous Products

This paper explores the pivotal role of modern marketing research methodologies in augmenting the export potential of leguminous products. In a global marketplace, the demand for legumes continues to rise, creating an opportune moment for exporters. However, realizing this potential necessitates a nuanced understanding of market dynamics, consumer preferences, and effective marketing strategies. The paper begins by delineating the current landscape of leguminous product exports, highlighting the challenges faced by exporters in penetrating diverse international markets. It then delves into the multifaceted benefits of employing modern marketing research techniques, emphasizing their role in identifying target markets, understanding consumer behavior, and crafting tailored marketing campaigns. Moreover, the research delineates various modern marketing research methodologies, including data analytics, consumer surveys, and trend analysis, elucidating their practical applications in the leguminous export industry. By integrating these methodologies, exporters can gain insights into market trends, competitive positioning, and consumer perceptions, enabling them to develop innovative strategies for market expansion. Furthermore, the paper offers a strategic framework for the effective utilization of modern marketing research in the context of leguminous exports. It emphasizes the significance of data-driven decision-making, adaptive marketing strategies, and agile market responsiveness. In conclusion, this paper underscores the indispensable role of modern marketing research in enhancing the export prospects of leguminous products. By leveraging these methodologies effectively, exporters can navigate the complexities of global markets, capitalize on emerging trends, and foster sustained growth in the leguminous product export industry.

Market orientation, corporate governance, and organizational learning: the rise of Korean popular culture

ABSTRACT Investors and managers of firms producing cultural products have long confronted the problem of low success rates. This study proposes a model arguing that corporate governance, in addition rates organizational learning, improves market orientation, which in turn influences the performance of cultural products. To support our model, this study collects 607 music videos produced by South Korean and Taiwanese entertainment companies. We measure their market orientation via the simple market research technique of data mining and examine the degree to which the characteristics of firm products are consistent with the results of market research. We find that market orientation is positively related to product performance. We also find that both corporate governance and organizational learning improve market orientation. Building on past research that has exclusively conceptualized market orientation as firm capabilities that could be improved by organizational learning, this study further suggests that agency problems between investors and artist managers hinder firms’ market orientation, and could be mitigated by strong institutions in corporate governance.

Forecasting the Mexican craft beer market: an integrated consumer perception conjoint analysis approach incorporating price and product attributes

PurposeThis paper aims to uncover patterns of Mexican craft beer consumers and guide companies’ decisions in the creation of new products, marketing strategies, advertising and promotion to increase craft beer sales and contribute to faster growth.Design/methodology/approachThis is a conjoint analysis with a selection of attributes for new or renewed products, marginal disposition to pay for particular characteristics through brand-specific choice-based design, and market simulation.FindingsThis paper clearly demonstrates consumers’ preferences and willingness to pay in Mexico, with a cutting-edge market research technique combining the prioritization of preferred craft beer characteristics, and the price consumers are willing to pay for such product characteristics.Research limitations/implicationsThe study's sample size of 501 responses is relatively small compared to the total number of craft beer consumers in Mexico. To enhance the validity and reliability of the findings, future studies should aim to obtain larger samples and compare their results with those of this study.Practical implicationsThis study has important implications for craft beer producers, allowing them to develop targeted craft beers with appealing attributes for Mexican consumers, such as color, aroma intensity, alcohol degree intensity, bitterness, foam level and price.Social implicationsThis study's market forecasting simulation technique is based on assumptions of consumer behavior and market dynamics. Although relevant variables were considered, unanticipated external factors or market changes could impact the forecasts' accuracy. This will allow for a more comprehensive understanding of craft beer consumer preferences in different markets and enhance the reliability of forecasting techniques.Originality/valueThis paper informs craft beer producers by providing valuable knowledge on customers’ preferences and willingness to pay to enhance craft beer companies’ product development processes.

Application Of K-Means Clustering For Customer Segmentation In Grocery Stores In Kenya

The retail industry, particularly in the context of grocery stores, plays a vital role in meeting consumers' daily needs. To optimize marketing strategies and enhance customer satisfaction, understanding customer behavior and preferences is crucial. Customer segmentation, a powerful market research technique, enables businesses to group customers with shared characteristics into distinct segments, allowing targeted and personalized approaches. This article explores the application of the K-means clustering algorithm for customer segmentation in grocery stores within the unique context of Kenya. By leveraging transactional and demographic data from diverse grocery stores across Kenya, the study aims to identify homogeneous customer groups with similar purchasing behaviors and preferences. The data collection process involved obtaining consent from store owners and ensuring data privacy and security. Following data preprocessing, K-means clustering was applied, and various validation techniques were utilized to determine the optimal number of clusters. The results yielded valuable insights into customer segments, aiding the identification of key customer groups and their distinct preferences.

Chef Junction: serving food from home to home

Learning outcomes The learning outcomes of this case study are as follows: It presents an opportunity for the instructors to introduce the concept of decision-making on matters involving risk (like scaling the business) using in-depth market research techniques. The case’s central idea is to make the students understand the growth of the online service delivery model, with a specific example of home-cooked food that also improves social welfare. It is expected to provide the participants with an opportunity to understand the decision-making by the leaders in newly established companies. It enables future managers to analyze a venture’s pros and cons before deciding to expand. Case overview/synopsis Chef Junction is an online food delivery platform that allows customers to order hygienic home-cooked food prepared by handpicked home chefs in Bhubaneswar. This city in eastern India is one of the fastest-growing metros, is regarded as a study hub, and provides ample employment opportunities making it one of the sought-after destinations for the migrant youth population. The idea behind Chef Junction is to cater to the healthy food needs of the young by utilizing the culinary productivity of the home cooks, empowering the latter by opening up an extra source of income. These chefs prepare delicious healthy food, usually not listed for sale with online food delivery apps. Chef Junction earned revenues by adding an order-dependent commission on the price quoted by chefs and accepting a flat delivery charge from the customers. This offer was very lucrative for home chefs who could join the platform with zero investment and flexible working hours. The customer’s pockets were also handled when several offers and discounts were rolled out through an attractive pricing strategy. Chef Junction expected to improve its patrons’ health quotient by ensuring the nutrition of the home-cooked food, thus contributing to social welfare. With food being delivered from home to home amalgamated with social welfare and empowerment of home chefs, especially women, this case study is an apt example of a sustainable work-from-home model that has proved effective in crisis times. The pertinent question is: “How feasibly can CJ’s business model grow towards an expansion as the demand increases?” Complexity academic level This case study has been prepared keeping in mind the teaching pedagogy for graduate and postgraduate management programs in strategic management, operations research, entrepreneurship and marketing management. It is also expected to be useful for training courses such as management development programs, faculty development programs and executive programs, in discussing service operations in general and online delivery logistics, in particular for working executives and industry practitioners. Supplementary materials Teaching notes are available for educators only. Subject code CSS 3: Entrepreneurship.

Assessing the Acceptability of Less Invasive Caries Removal Techniques for treating Deep Carious Lesions: A Conjoint Survey among Dentists Practicing in a Midwestern American State

This study identified factors that influence dentists’ decisions regarding less invasive caries removal techniques such as stepwise removal (SW) and selective removal (SE) using a marketing research technique, conjoint analysis. A survey was sent to 1,434 dentists practicing in Iowa. Dentists were randomly assigned to receive a questionnaire to rate the likelihood they would use either SW/SE in hypothetical clinical scenarios. The scenarios were carefully created by conjoint design and included three relevant attributes: depth of lesion, hardness of carious dentin, and patient age. Descriptive and conjoint analyses were performed to assess trade-offs between these attributes, using SPSS. The study revealed that depth of lesion was the most important factor in the dentists’ decisions (49 importance value) when choosing a SW to treat a deep carious lesion, followed by hardness of carious dentin and patient age (21 importance value). For the SE group, depth of the lesion was also the predominant factor when selecting a treatment. The study also identified that a high proportion of dentists (24.9%) indicated they would never consider using SW or SE under any circumstances. Our survey showed that depth of lesion was the most important reason to select a less invasive caries removal method. The high proportion of dentists indicating they would never consider selective caries removal (SE) techniques suggests that these less invasive options are underutilized.

Marketing insight from consumer reviews: Creating brand position through opinion mining approach

PurposeBrand managers can determine the ideas, perceptions, or experiences of consumers about their brands and their competitors through traditional marketing research techniques such as focus group discussions, surveys, and in-depth interviews. Through these methods, brands can observe the visual expression of consumer perceptions concretely by using perception maps or radar chart techniques. However, traditional methods have certain limitations. The validity of brand positioning in perception maps may be questioned since consumers' answers to survey questions can be misleading, consumers may express opinions about a product that they have not purchased yet, and other methods may divert the opinions of consumers at a specific stage.In this study, global brand positions in the minds of consumers were concretized through perception maps by analyzing product comments on e-commerce sites through the use of opinion mining/sentiment analysis, one of the text mining methods. Moreover, perception maps and radar charts were created for the selected brands by forming the dataset from consumers’ reviews about brands and products in online environments. perception map errors caused by traditional methods have been prevented by using opinion mining/sentiment analysis, which constitutes the originality of the research. Design/methodology/approachIn this study, the text mining method, which includes opinion mining and sentiment analysis techniques, has been used to create perceptual maps from consumer reviews about products on e-commerce platforms. The TF*IDF method is used to identify the features to be compared in the perceptual map, which selects the features with weighted importance among the features mentioned by consumers in their comments. In this study, a lexicon-based opinion mining technique has been used to assign sentiment scores to consumers' comments on e-commerce websites for each product and its specified features. FindingsThe findings of the study have illustrated the areas in which the brands are evaluated as “insufficient” or “successful” by consumers within the framework of the characteristics selected in the study. It has been revealed that the method used in the research can provide accurate results for brand managers to make positioning decisions and develop effective marketing strategies. Research limitations/implicationsThe research has been conducted by analyzing product reviews about selected brands on e-commerce platforms. The comments selected within the scope of the research include only those written in the Turkish language, and the evaluations have been carried out on the comments made until a specific date. Originality/valueIn this study, the analyses of the comments on the selected brands have ensured that the businesses are informed of the level of perception about their products in the market and that the research is based on a holistic approach that helps other consumers to develop a perspective on a specific product based on the comments of a consumer who shares his/her experience about the aforesaid product.

EEG‐Based Preference Classification for Neuromarketing Application

Neuromarketing is a modern marketing research technique whereby consumers’ behavior is analyzed using neuroscientific approaches. In this work, an EEG database of consumers’ responses to image advertisements was created, processed, and studied with the goal of building predictive models that can classify the consumers’ preference based on their EEG data. Several types of analysis were performed using three classifier algorithms, namely, SVM, KNN, and NN pattern recognition. The maximum accuracy and sensitivity values are reported to be 75.7% and 95.8%, respectively, for the female subjects and the KNN classifier. In addition, the frontal region electrodes yielded the best selective channel performance. Finally, conforming to the obtained results, the KNN classifier is deemed best for preference classification problems. The newly created dataset and the results derived from it will help research communities conduct further studies in neuromarketing.

Qualitative social media content analysis as teaching-learning method in higher education

ABSTRACT Market research topics and methodologies are gaining presence in the most syllabus of university degrees. Today's students will probably become business managers of companies commercializing different products and services, such as hotels, restaurants, or cultural products and services. Because of this, they must learn how to apply quantitative and qualitative market research techniques to know about customer needs. Traditionally, quantitative methodologies have prevailed in both research and university curriculums. However, the popularization of Information and Communication Technologies has made qualitative research more necessary than ever. Most customers express their reviews and opinions on digital platforms such as Booking, Tripadvisor, or Trivago. And this is one of the most credible and influential sources of information for other potential customers. Because of this, future business managers must learn how to analyze the valuable information provided by customers through this platform. A practical exercise was proposed to a group of tourism students to identify substantial aspects and improvement areas in the management of tourism companies by using qualitative user-generated content analysis. This topic identification has critical managerial implications for improving the satisfaction level of tourism companies’ customers.

Measuring Passenger Loyalty to Public Transport Modes

This paper incorporates insights from relevant consumer behavior research in marketing to travel mode choice by adopting the loyalty model, a decision-making model, to better understand and evaluate passenger attitudes toward public transport modes. This paper describes the loyalty model and demonstrates and validates its use in transportation using a case study of a choice between two modes, rail and bus. Based on factor analysis, two factors from the loyalty model were identified: loyalty, which measures the repeat purchase of the service and the passenger’s attitude toward it; and hedonic commitment, which measures the emotional feeling after using a mode. The full loyalty model was validated for both rail and bus passengers. The research shows that, like other consuming products toward which subjective emotional feelings affect the consumer’s behavior, passenger choice is significantly affected by subjective emotional feelings toward the mode. Additionally, the subjective effect can be measured easily using marketing research techniques.

The Use of Market Research and Radio Consultancy in Spanish Music Radio: The Case of Kiss FM (2002-2010)

ABSTRACT Kiss FM brought a new programming methodology to the radio sector in Spain. Previously, market research tools were used merely for orientation purposes but from 2002 onward the use of music testing and audience panels began to take on a decisive role. In this paper we analyze the application of market research and radio consultancy in music radio in Spain, identifying the reasons for the success of Kiss FM and its impact on the sector as a whole. We use a methodology which combines participant observation and in-depth personal interviews, examining the market research techniques of the Kiss FM model and its impact.

Branding Al Ain as a tourist destination

This paper focuses on developing a tourist destination in the UAE, alongside the Sustainable Development Goals of increasing work opportunities and economic growth. The UAE has long recognised the importance of tourism for developing its economy. Abu Dhabi registered five sites in the UNESCO list of global heritage in 2011, and one of these sites is in the Oasis city of Al Ain. There is a potential for Al Ain to grow as a tourist destination, as part of the UAE nation brand. The research approach is mainly quantitative, using marketing research techniques such as Discrete Choice Analysis and Max-Diff to ascertain consumer preferences. The present study uses the 178 online questionnaires completed out of about 350 respondents. The findings of this study pose several practical implications. In the first place, it will determine how Al Ain can fit within a brand architecture of the Abu Dhabi Emirate or the UAE nation brand. Secondly, it can shed light on brand associations and the brand identity that Al Ain must pursue. It is considered that this piece of research can contribute to the development of Al Ain as a tourist destination and help organisations such as Abu Dhabi Department of Tourism and Cultural with the promotional messages and the positioning of Al Ain.

APPLICATION OF CONJOINT ANALYSIS TO MODEL MILLENNIALS’ PREFERENCE FOR SMARTPHONE ATTRIBUTES

<p>The decision to buy smartphones comes with the consideration of several factors, especially among millennials who have been known to be very painstaking when it comes to smartphone specs. With this, this study was conducted to provide a scenario of how millennials behave when it comes to buying smartphones and identify the relative importance of the features or attributes (battery, screen size, storage, storage space and main camera resolution) in determining millennials’ best and least-preferred models of a smartphone. A total of N=400 millennials responded to a market survey that employed twenty (20) software-generated plancards. Using metric conjoint analysis (a marketing research technique), this study found out that as far as millennials in Digos City are concerned, the screen size of a smartphone is the most important attribute, while the battery of a smartphone is the least important attribute. On aggregate, a smartphone with 6 inches screen size is most preferred, while a smartphone that has a non-removable battery is the least preferred attribute level. The additive model of conjoint analysis further revealed that the most preferable smartphone is one that has a removable battery, with 6” screen size, has a microSD slot storage, with 64 GB storage space and 12 megapixels as main camera resolution, while the least preferred combination is one that has a removable battery, 4” screen size, no microSD slot storage, 16 GB storage space and 16-megapixel main camera resolution. Implications of this market research are also discussed.</p><p>JEL: D01; D40; D83; L63</p><p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0937/a.php" alt="Hit counter" /></p>

Learning From the Past to Improve the Future

Contact tracing apps were considered among the first tools to control the spread of COVID-19 and ease lockdown measures. While these apps can be very effective at stopping transmission and saving lives, the level of adoption remains significantly below the expected critical mass. The public debate as well as academic research about contact tracing apps emphasizes general concerns about privacy (and the associated risks) but often disregards the value-added services, as well as benefits, that can result from a larger user base. To address this gap, the study analyzes goal-congruent features as drivers for user adoption. It uses market research techniques – specifically, conjoint analysis – to study individual and group preferences and gain insights into the prescriptive design. While the results confirm the privacy-preserving design of most European contact tracing apps, they emphasize the role of value-added services in addressing heterogeneous user segments to drive user adoption. The findings thereby are of relevance for designing effective contact tracing apps, but also inform the user-oriented design of apps for health and crisis management that rely on sharing sensitive information.

Trends in food sensory science

Trends in food sensory science

Methods for identifying and evaluating disruptive technologies in university spinoffs

The entrepreneurs responsible for establishing university spinoffs are incessantly looking for new ways to leverage existing technology or create an entirely new product or service market. The creation of disruptive innovative solutions has assumed a key role in enhancing the role of university spinoffs in the global marketplace. This study aims to characterize and explore the phenomenon of disruptive innovation in university spinoffs and identify how university spinoffs recognize and evaluate low-end and new-market disruptive technologies. The findings reveal that university spin-offs have essentially privileged new-market disruptive technologies. Participation in trade fairs, conferences and journals have been the main methods adopted by these organizations to identify disruptive technologies, while the evaluation of the potential of these disruptive technologies is essentially based on the experience and scientific knowledge of the founders of the university spin-offs. Furthermore, the size and number of years of activity of university spinoffs are two factors that allow us to understand the greater proximity of the younger and smaller spinoffs with universities and research centers, whereas the larger organizations prioritize mainly market analysis and product research techniques.

The Insights Industry: Towards a Performativity Turn in Market Research

While market research has been the cornerstone of the intelligence ecosystem, the emergence of ‘insights’ vendors is re-shaping the market. Adjacent practices, ranging from competitive intelligence, social listening and data science, could relegate market research to legacy status in firms. This investigation explores how expert market researchers respond to the commoditisation of market research techniques and their diminishing access to the client’s organisation to address this issue. The findings show that market researchers are adapting – effectively reinventing themselves as ‘insights’ professionals – through the following four initiatives: (1) offering solution services, (2) creating architectures that integrate organic and designed data, (3) making heroes in the client’s organisation and (4) forging performative relationships based on strategic guidance. These initiatives shift market research from ostensive (descriptive or declarative) to performative (effectual or actionable). Theoretically, the article conceptualises the changes in the market research industry through the performativity lens.

Optimizing Care for Adults with Congenital Heart Disease: Results of a Conjoint Analysis Based on a Nationwide Sample of Patients Included in the German National Register.

(1) Background: Congenital heart disease (CHD) requires lifelong specialized care. Failure to follow up and gaps in care are common in this group and lead to increased morbidity/mortality. We evaluated patients’ perceived needs and expectations regarding specialized care using state-of-the-art statistical and market research techniques based on a nationwide sample of CHD patients. (2) Methods: A random sample of adults with CHD registered in the German National Register for Congenital Heart Defects were invited to answer an adaptive online questionnaire based on the conjoint analysis (CA) technique. CA determines the relative importance of various aspects of health care provision and allows individuals to trade between characteristics, thus recognizing limited resources. (3) Results: 637 patients participated (mean age 33.8 ± 12.6 years; 55.6% female; disease complexity: simple defect 12.6%, moderate complexity 40.3%, complex CHD 40.2%) in the analysis. Patients assigned the highest relative importance to aspects of patient–physician communication, physician qualifications, waiting time, medical care, and medical equipment. Comfort-related aspects such as driving time or hotel aspects of care received much lower scores. We identified four well-defined clusters of patients with differing expectation patterns: (i) time sensitive patients; (ii) excellence seeking patients; (iii) continuity seekers, and (iv) support seeking patients. (4) Conclusions: Adult CHD patients rank effective patient–physician interaction and communication as the most important factors. As we identified significant heterogeneity between CHD patients, centers should cater for individual preferences and integrate individual needs into treatment plans to prevent failure to follow up and ensure patient compliance.

Societal Changes Due to “COVID-19”. An Analysis of the Tourism Sector of Galicia, Spain

With the outbreak of the COVID-19 pandemic, an unprecedented global health and economic crisis started. This situation has had a devastating effect on all economic and social sectors, provoking either a decrease or cessation of business or profound changes in life habits. One of the most affected industries has been tourism, due to the resulting travel restrictions and a sharp drop in demand among travellers as well as temporary hotel and restaurant closures. Thus, the primary purpose of this study is to analyse the changes during the pandemic in individual consumers’ behaviour patterns in the tourism sector. Predictive market research techniques through quantitative analysis were carried out via surveys (n = 712). One of the more significant findings to emerge from this study is that recollection of these times will be in people’s minds for a long time after the pandemic. Notably, tourists will reward safety over leisure and will continue to undertake independent tours with their own vehicles. Findings also proved—and for the tourism sector this is good news—that travellers’ trust will be rebuilt, and tourists will be travelling again.