scholarly journals Estimating the Market Share for New Products with a Split Questionnaire Survey

2021 ◽  
Vol 26 (1) ◽  
pp. 7
Author(s):  
Simone Balmelli ◽  
Francesco Moresino
Keyword(s):  
Conjoint Analysis ◽  
Market Share ◽  
Questionnaire Survey ◽  
New Products ◽  
Perceived Value ◽  
New Product ◽  
New Method ◽  
Traditional Methods ◽  
Market Shares ◽  
Alternative Approach

When designing a new product, conjoint analysis is a powerful tool to estimate the perceived value of the prospects. However, it has a drawback: when the product has too many attributes and levels, it may be difficult to administrate the survey to respondents because they will be overwhelmed by the too numerous questions. In this paper, we propose an alternative approach that permits us to bypass this problem. Contrary to conjoint analysis, which estimates respondents’ utility functions, our approach directly estimates market shares. This enables us to split the questionnaire among respondents and, therefore, to reduce the burden on each respondent as much as desired. However, this new method has two weaknesses that conjoint analysis does not have: first, inferences on a single respondent cannot be made; second, the competition’s product profiles have to be known before administrating the survey. Therefore, our method has to be used when traditional methods are less easily implementable, i.e., when the number of attributes and levels is large.

An Approach to Modeling Customer Preference Uncertainty by Applying Bootstrap to Choice-Based Conjoint Analysis Data

2010 ◽  
Author(s):  
Swithin S. Razu ◽  
Shun Takai
Keyword(s):  
Product Development ◽  
Conjoint Analysis ◽  
New Product Development ◽  
Market Share ◽  
New Product ◽  
Analysis Data ◽  
Product Development Process ◽  
Product Concept ◽  
Customer Preference ◽  
Market Shares

Analysis of customer preferences is among the most important tasks in a new product development. How customers come to appreciate and decide to purchase a new product affects the products market share and therefore its success or failure. Unfortunately, when designers select a product concept early in the product development process, customer preference response to the new product is unknown. Conjoint analysis is a statistical marketing tool that has been used to estimate market shares of new product concepts by analyzing data on the product ratings, rankings or concept choices of customers. This paper proposes an alternative to traditional conjoint analysis methods that provide point estimates of market shares. It proposes two approaches to model market share uncertainty; bootstrap and binomial inference applied to choice-based conjoint analysis data. The proposed approaches are demonstrated and compared using an illustrative example.

scholarly journals New product concept selection: an integrated approach using data envelopment analysis (DEA) and conjoint analysis (CA)

2014 ◽  
Vol 3 (1) ◽  
pp. 44 ◽  
Author(s):  
SaEd M. Salhieh ◽  
Mira Y. Al-Harris
Keyword(s):  
Data Envelopment Analysis ◽  
Conjoint Analysis ◽  
Perceived Value ◽  
New Product ◽  
Data Envelopment ◽  
Product Concept ◽  
Customer Perceived Value ◽  
Using Data ◽  
Product Concepts ◽  
Selection Of

New product concept development is considered to be a critical step and the main determinant for the success or failure of new product development. This paper introduces a new methodology for the evaluation and selection of new product concepts using Data Envelopment Analysis (DEA) and Conjoint Analysis (CA). The proposed methodology integrates customer perceived value of the new product concepts through the use of CA and uses this perceived value as a measure for the new concepts performance. In addition, the methodology takes into account the development burden that a company has to perform to bring the new concept into a state of market readiness. This development burden is estimated by determining two main factors, namely the burden to produce and the burden to sell the new product concept. The customer perceived value and the development burden are both used in DEA to evaluate the new product concepts resulting in the selection of the best product concept. The applicability of the proposed methodology is illustrated through a case study. Keywords: Product development, concept selection, data envelopment analysis, conjoint analysis.

A Fuzzy Similarity-Based Approach to Reliability Allocation of Diesel Engine

2011 ◽  
Author(s):  
Zhong-Zhe Chen ◽  
Yu Liu ◽  
Hong-Zhong Huang ◽  
Dan Ling ◽  
Li-Ping He
Keyword(s):  
Diesel Engine ◽  
New Products ◽  
New Product ◽  
New Method ◽  
Design Stage ◽  
Reliability Allocation ◽  
Reliability Indices ◽  
Domain Experts ◽  
Fuzzy Similarity ◽  
Allocation Method

Most of new products evolve based upon existing products. The reliability indices and maintenance records of existing products are very important to provide useful information for the reliability allocation of the new evolutionary products. In this paper, a fuzzy similarity-based reliability allocation method which considers not only the similarity between the new product and old ones, but also the judgments from domain experts, is proposed to realize a reasonable reliability allocation at the initial design stage of diesel engines. The new method allows for using both the objective information from the old products and the subjective judgments from experts simultaneously, and it is more comprehensive and objective compared to the traditional reliability allocation method.

New Product Distribution: An Analysis of Supermarket Buyer Decisions

1975 ◽  
Vol 12 (3) ◽  
pp. 255-264 ◽  
Author(s):  
David B. Montgomery
Keyword(s):  
Discriminant Analysis ◽  
Threshold Model ◽  
New Products ◽  
New Product ◽  
Product Distribution ◽  
New Method ◽  
Small Samples ◽  
Multiple Discriminant Analysis ◽  
The Relationship

This article explores the relationship between 18 variables and a supermarket buyer's decision to accept or reject a new product. One hundred twenty-four new products are analyzed by multiple discriminant analysis and a hierarchical threshold model termed a “gatekeeper” analysis. A new method of discriminant validation in small samples is also proposed.

Pharmaceutical innovation and market share: evidence from a generic market

2016 ◽  
Vol 10 (4) ◽  
pp. 376-389 ◽  
Author(s):  
Nazila Yousefi ◽  
Gholamhossein Mehralian ◽  
Hamid Reza Rasekh ◽  
Hossein Tayeba
Keyword(s):  
Pharmaceutical Industry ◽  
Product Development ◽  
New Product Development ◽  
Market Share ◽  
Historical Data ◽  
Expert Panel ◽  
New Products ◽  
New Product ◽  
Pharmaceutical Market ◽  
Content Type

Purpose Pharmaceutical market value in Iran exceeded to more than US$4bn in 2013, indicating annually over 20 per cent growth. In the past decades, Iranian pharmaceutical industry was supported by government policies, namely, generic substitution, import limitation and local production support; however, the local pharmaceutical manufacturer’s market share in value has been decreased gradually. This study aims to provide historical data on Iran pharmaceutical market to show the importance of new product development to attain greater market share and tries to motivate the pharmaceutical industry located in developing countries to develop more innovative medicines. Design/methodology/approach This is a descriptive cross-sectional study that investigates the Iranian pharmaceutical market by focusing on new products over a five-year period (2009-2014), and that was augmented by an expert panel to rank subjectively firms’ performance indicators to shed light on the importance of new product development to firms’ performance. Findings The expert panel results find out that new product development is one of the most important “result indicators” for Iranian pharmaceutical companies. Historically, in line with the experts’ opinion on the new product development, the Iranian pharmaceutical industry has shown its capability to develop new medicines by developing 3,095 new products (mostly new-to-firm) across about 100 firms. Despite this fact, the share of local manufacturers in new medicines’ market decreased from 52 per cent at the beginning of studied period to 24 per cent at the end, and the gap between the unit value of imported and domestically produced medicines has been significantly increased due to low-innovative medicines locally produced. Research limitations/implications This research was challenged with limitations such as lack of reliable published data on new medicines in the Iran pharmaceutical market. Practical implications This study highlights the fact that developing more innovative products in the generic pharmaceutical industry such as Iran can grant its market share. Originality/value This is an original study that shows the effect of innovative product development on market share through historical data.

Don’t Get Eaten! Understanding and Handling Cannibalization Risk

2018 ◽  
Vol 10 (1) ◽  
pp. 34-39
Author(s):  
Charlotte Mason ◽  
Kaushik Jayaram
Keyword(s):  
Market Share ◽  
Distribution System ◽  
New Products ◽  
New Product ◽  
Lower Margin ◽  
Relevant Variables ◽  
Potential Loss

Abstract To minimize the potential loss of market share and profits, it is important to understand factors that drive cannibalization. Key brand variables for cannibalization risk concern how the new product compares in price and quality to existing products. Other relevant variables are the category, the type of product and a company’s distribution system. Also, whether a new product will coexist with or replace the existing product needs to be considered. Estimating cannibalization risk should assess possible effects on company operations. The positioning of new products needs to be planned and communicated carefully. Too many similar options may confuse the consumer. Brand and category factors as well as the consumption context can help managers mitigate the extent of cannibalization. Profit impact is more relevant than changes in sales figures. A lower-margin product cannibalizing a higher-margin product eats away at profits, but a higher-margin product cannibalizing a lower-margin one is potentially worth the cannibalization risk.

An alternative approach for the operational risk assessment of a new product

2019 ◽  
Author(s):  
Andrea Giacchero ◽  
Jacopo Moretti ◽  
Francesco Cesarone ◽  
Fabio Tardella
Keyword(s):  
Risk Assessment ◽  
Operational Risk ◽  
New Product ◽  
Alternative Approach

New Folk Music as Attempted Repatriation in Romania

2018 ◽  
pp. 436-452
Author(s):  
Maurice Mengel
Keyword(s):  
Mass Media ◽  
Folk Music ◽  
Cultural Policy ◽  
New Products ◽  
New Product ◽  
The State ◽  
State Institutions ◽  
The Public ◽  
Socialist State ◽  
New Form

This chapter looks at cultural policy toward folk music (muzică populară) in socialist Romania (1948–1989), covering three areas: first, the state including its intentions and actions; second, ethnomusicologists as researchers of rural peasant music and employees of the state, and, third, the public as reached by state institutions. The article argues that Soviet-induced socialist cultural policy effectively constituted a repatriation of peasant music that was systematically collected; documented and researched; intentionally transformed into new products, such as folk orchestras, to facilitate the construction of communism; and then distributed in its new form through a network of state institutions like the mass media. Sources indicate that the socialist state was partially successful in convincing its citizens about the authenticity of the new product (that new folklore was real folklore) while the original peasant music was to a large extent inaccessible to nonspecialist audiences.

Entrepreneurial Bricolage and New Product Development Performance in New Ventures: The Contingent Effects of Founding Team Involvement

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Xinchun Wang ◽  
Xiaoyu Yu ◽  
Xiaotong Meng
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Resource Constraints ◽  
New Ventures ◽  
New Products ◽  
New Product ◽  
Strategic Decision ◽  
Entrepreneurial Bricolage ◽  
Founding Team ◽  
Npd Performance

Abstract New product development (NPD) performance is a key determinant of a new venture’s success. However, compared with established firms, new ventures often suffer from resource constraints when developing new products. Entrepreneurial bricolage is reported in the literature as an alternative strategic option that enables managers to overcome resource constraints when developing new products. However, because new ventures are often founded by an entrepreneurial team, the effectiveness and efficiency of using bricolage to improve NPD performance might be contingent on how the founding team plays its roles in this process. Using data from 323 new ventures in China, we find support for the critical role of entrepreneurial bricolage in improving NPD success under resource constraints. More importantly, our results reveal that the bricolage strategy is more likely to benefit a venture when the founding team is composed of members with diverse functional backgrounds and is not heavily involved in strategic decision-making.

Sign in / Sign up

Export Citation Format

Share Document