More specifically, the client was interested in: The main objective of this research was to determine which of the toys should be taken to market, given the current competitive landscape. The company wished to select new product concepts that would be most successful in the upcoming holiday sales season. Each year the toy maker screened several nonplatform toys for infants and toddlers. Within the highly competitive toy industry, a toy maker wanted to know which of several new concepts should be taken to market based on their volume and revenue potential. After calibration the total volume estimates were loaded into a DecisionSimulator™ that enabled the client to make toy selections based on potential units and revenue. Calibration to external sales data was applied to improve the reliability of volumetric estimates. Several latent class choice models were developed, measuring price and product utilities. During an online survey, respondents were taken through two shopping exercises and made purchase decisions based on the available toys. Methods: Volumetric Concept Testing, Latent Class Choice Modeling, Calibration, DecisionSimulator™, Simulated Shopping with Shelf SetsĪ toy maker developed several toy concepts and wanted to know which of them should be taken to market. Videos - Leadership Strategy Interviews.Predictive Analytics & Marketing Research.
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