CUSTOM DECISION SUPPORT, LLC.
P.O. BOX 1685,
CAPITOLA, CA 95010-1685
TEL: (831) 854-2256
genelieb@lieb.com
Marketing Analytics/ Decision Support/ Survey Research/ Workshops
Marketing Analytics
Marketing analytics involve the statistical analysis, modeling and
visualization of market, and environmental data to facilitate optimum decision
making. The trick is to get as much out of the available data that is
relevant to business decisions in a form that the business team can use.
This is both an competitive advantage and has become a
requirement of good business governance. Custom Decision Support, LLC
(CDS) provides customized, and professional marketing data analysis and
modeling services. These services are done as a part of marketing and
survey research activities, business consulting and as an out-sourced service.
Projects focus include:
- Optimum Product Design - While some products are
determined by their inherent structures others have a range of features
that must be selected. It is these products and business situation
for which product design is critical. CDS provides research
methods, marketing analytics and models to evaluate features and to
optimize products. It should be noted that these product attributes
include both the physical properties, features, services and implied
values.
- Pricing Strategy - Pricing of products is
becoming increasingly sophisticated with the availability of marketing
research data. Pricing exercise data from surveys provide market
information from which demand earnings curves can be developed. The
potential earnings reflect relative contribution and are the difference
between revenues and costs. CDSI has developed models and procedures
that estimate the optimum price that maximizes the earnings. These
optimum price models are combined with product value estimates to portray
the impact of strategy and actions on the business results. These analyzes
often include multiple product pricing strategy which can involve both
potential product cannibalization and mutual value enhancement.
- Concept Testing - CDS provides a number of
new business concept testing procedures with the appropriate analytical
tools to estimate price/value and desired feature characteristics.
It should be noted that business concepts vary widely, and these robust
tools are highly customized to capture the market and product uniqueness.
- Competitive Positioning- Positioning of products,
competitors, markets and attributes can be very complex. CDS uses a
broad range of visualization tools to allow for
analytical positioning. These include value mapping, perceptual
maps, quadrant maps, correspondence
analysis, one-by-one maps and others to provide multiple perspectives on
the competitive positions.
- Segmentation - Identifying potentially
profitable interested groups of customers is critical for the formulation
of any effective marketing strategy. This is the chore of identifying
market "segments." There are two general methods of identifying
segments from market and marketing research data based on how the criteria
are selected: (1) prior segments are based on imposing specific criteria
on the data, and (2) derived segments are identified from the research
data itself. The key in derived segmentation is the use of many
variables. The goal is to identify groups of respondents with common
characteristics. Because we can select different characteristics to use in
forming segments, there are many types of derived segmentation. CDSI has developed
multiple successful approaches to statistically identify useful derived
market segments from marketing research information focusing on attribute
and outcome importance, feature value, benefits or desired product
configuration.
- Value Analysis - CDSI provides a broad
range of analytical views of product value these include economic value
analysis and attribute importance based on regression and correlation
models. The interrelationship between the valuables is often
critical to understand the behavior of the market. As such, the
models often involve structural equations as well as factor or latent
variables.
- Branding and Brand
Equity - Products
compete not only in terms of physical features but in terms of image and
brand. Success in the marketplace is enhanced by powerful
competitive “Brands.”. Brands represent a significant
long-term marketing investment which is expected to provide future
value. Brand equity and customer loyalty are meaningful only in
terms of the price premium or the increased share that the market gives
the brand and products. CDSI provides methods to estimate these metrics of
effective branding as well as tools to visualize competitive brand
position based on marketing pricing research data..
- Custom Satisfaction and
Six Sigma Marketing Quality - The goal of Total Quality and Six Sigma programs,
according to Edwards Demming, is to “Delight the Customer” by “Exceeding his
Expectations”. This is, of course, easier said than done. Both
Total Quality and Six Sigma programs rest on the ability to measure and
control those things that influence the customer. CDSI provides a
broad range of analytical views of custom perception consistent with
Quality analysis approaches.
- Market Chain and
Reseller Value - Pricing and the promotion of
products is often compromised due to the nature of the market chain.
For example, manufacturers often have limited authority to set market
prices on products being sold through resellers. CDSI has developed
pricing models that estimate the optimum prices for suppliers given that
their resellers optimize their prices. This provides a means to
understand the effectiveness of sales programs designed to influence
reseller behavior.
- Sales, Distribution, and
Product Mix - How
products are carried, displayed and promoted within a sales venue can be
critical. Market and marketing research data provides a basis to
understand potential customer behavior. However the options and
conditions for the store site layout and the extent of the offerings can
be huge. CDSI provides models, visualization dashboards and market
analytics as tools to explore opportunities and to identify optimum
conditions.
- Business Risk - CDS has been called upon to development models to
assist in: (1) pricing under uncertainty, (2) formulation of bidding
strategies, (3) product development risk reduction, and (4) number of
potential outlets. The objectives of these models were to
identify optimum policies and characteristics that balances risk with
potential gains. While not limited to specific tools. the procedures that we have used include: dynamic
modeling, mathematical programming, stochastic simulation, statistical
analysis, game theory and others.
- New Opportunity
Identification- Innovation
and the identification of new attractive and feasible opportunities is the
mantra of almost all modern businesses. The trick is finding ways to
both encourage the process and to increase the likelihood of
success. Tools based on outcome research data have been employed by
CDS to identify potential opportunities.
- Advertising/Promotion
Market Mix Models - Evaluating the design of promotional materials and the
optimum selection of methods of marketing have always been key objectives
of advertising and marketing research. However, these measures are
difficult of ascertain. CDS has developed a number of evaluation
schemes and modeling procedures to provide this insight.
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