ENBIS-17 in Naples

9 – 14 September 2017; Naples (Italy) Abstract submission: 21 November 2016 – 10 May 2017

New Applications of Statistics and Data Analysis for Marketing Research, Applications to the Cosmetic Industry

12 September 2017, 19:00 – 19:20

Abstract

Submitted by
Gianvito Dongiovanni
Authors
Gianvito Dongiovanni (IPSOS Italy)
Abstract
Statistics play a key role in market research from sampling design to data analysis to generate valuable insights regarding product design, brand communication or customer satisfaction.
Linear regression is the classical way to determine a ranking of predictors or a quantification of their respective importance for the desired outcome. New analytical approaches are gaining ground in research: combining the bootstrapping technique to Bayesian networks, it is possible to bring out the infer causal relationships of a key outcome from survey data taking into account multicollinearity between variables. Relative impacts and structural mapping are provided to help identifying opportunities in order to develop action plans that best fit business strategy and provide the greatest opportunity.
Marketing decisions are also supported by a vast amount of information generated by customers on social networks and by new data collecting methods such as open text or pictures and icons present in the survey process itself. Using a mix of monitoring tools, it is possible to identify which messages and initiatives are driving the right actions and desired outcomes.
These methods enable to provide clients with elements supporting marketing decisions such as identify market segments, decide on a level of pricing, identify the relative strength of their brand versus competitors and also understand the positioning of the brand in the market such as high end brand or value for money brand. It is also used to rank advertising concepts and decide on marketing mix optimisation.
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