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A Consumer-Based Methodology for the Identification of New Product Ideas

Author

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  • Allan D. Shocker

    (University of Pittsburgh, Graduate School of Business)

  • V. Srinivasan

    (The University of Rochester, Graduate School of Management)

Abstract

This paper suggests a procedure which analytically ties a model to predict users' predispositions to purchase different "brands" in a product-market together with a search process to identify optimal new product ideas. Brands, conceptualized as attribute bundles, are located in a prespecified attribute space. The painwise preference judgments of each individual in a representative sample drawn from the population of users are analyzed using the authors' LINMAP procedure (LINear programming techniques for Multidimensional Analysis of Preferences) to determine his ideal point and salience weights for the attributes of the space. A distance model of choice is postulated for each user and used to predict his probability of choosing nonexisting products. The models developed for each user are tied to methods for searching the product space to find "best" locations for new products. The proposed procedures are discussed and evaluated in the light of relevant conceptual and empirical research. The paper concludes with a discussion of additional applications of the behavioral framework of LINMAP to other marketing decision areas.

Suggested Citation

  • Allan D. Shocker & V. Srinivasan, 1974. "A Consumer-Based Methodology for the Identification of New Product Ideas," Management Science, INFORMS, vol. 20(6), pages 921-937, February.
    • Handle: RePEc:inm:ormnsc:v:20:y:1974:i:6:p:921-937
    DOI: 10.1287/mnsc.20.6.921
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    Cited by:

    1. Hadjinicola, George C. & Kumar, K. Ravi, 2002. "Modeling manufacturing and marketing options in international operations," International Journal of Production Economics, Elsevier, vol. 75(3), pages 287-304, February.
    2. Brockhoff, Klaus (Ed.), 1977. "Three papers on optimal product positioning," Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel 51, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre.
    3. Wilhelm, Wilbert E. & Xu, Kaihong, 2002. "Prescribing product upgrades, prices and production levels over time in a stochastic environment," European Journal of Operational Research, Elsevier, vol. 138(3), pages 601-621, May.
    4. Christian Hildebrand & Gerald Häubl & Andreas Herrmann & Jan R. Landwehr, 2013. "When Social Media Can Be Bad for You: Community Feedback Stifles Consumer Creativity and Reduces Satisfaction with Self-Designed Products," Information Systems Research, INFORMS, vol. 24(1), pages 14-29, March.
    5. Corsten, Hans & Gossinger, Ralf, 2006. "Output flexibility of service enterprises -- an analysis based on production theory," International Journal of Production Economics, Elsevier, vol. 104(2), pages 296-307, December.
    6. Brockhoff, Klaus K. & Rao, Vithala R., 1991. "Issues in predicting the demand for a new technological product," Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel 270, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre.
    7. Baier, Daniel & Gaul, Wolfgang, 1998. "Optimal product positioning based on paired comparison data," Journal of Econometrics, Elsevier, vol. 89(1-2), pages 365-392, November.
    8. Gilles, LAURENT & Thierry, LAGEAT & Sandor, CZELLAR, 2003. "Engineering Hedonic Attributes to Generate Perceptions of Luxury:Consumer Perception of an Everyday Sound," HEC Research Papers Series 779, HEC Paris.
    9. Albritton, M. David & McMullen, Patrick R., 2007. "Optimal product design using a colony of virtual ants," European Journal of Operational Research, Elsevier, vol. 176(1), pages 498-520, January.
    10. Glen M. Schmidt & Evan L. Porteus, 2000. "The Impact of an Integrated Marketing and Manufacturing Innovation," Manufacturing & Service Operations Management, INFORMS, vol. 2(4), pages 317-336, April.
    11. Silk, Alvin J. & Urban, Glen L., 1976. "Pre-test market evaluation of new packaged goods : a model and measurement methodology," Working papers 834-76., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    12. Brockhoff, Klaus, 1982. "The evaluation of optimal product positions," Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel 103, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre.
    13. Mark B. Vandenbosch & Charles B. Weinberg, 1997. "A value analysis model for farm equipment manufacturers," Agribusiness, John Wiley & Sons, Ltd., vol. 13(4), pages 409-421.
    14. Snelders, Dirk & Schoormans, Jan P. L., 2004. "An exploratory study of the relation between concrete and abstract product attributes," Journal of Economic Psychology, Elsevier, vol. 25(6), pages 803-820, December.
    15. Gruca, Thomas S. & Klemz, Bruce R., 2003. "Optimal new product positioning: A genetic algorithm approach," European Journal of Operational Research, Elsevier, vol. 146(3), pages 621-633, May.
    16. Krieger, Abba M. & Green, P. E., 2002. "A decision support model for selecting product/service benefit positionings," European Journal of Operational Research, Elsevier, vol. 142(1), pages 187-202, October.
    17. Dimitrios Giannias, 1999. "Market Positioning of Differentiated Products," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 6(1), pages 29-39.
    18. Sudharshan, Devanathan & Furrer, Olivier & Arakoni, Ramesh A., 2013. "Robust Imitation Strategies," FSES Working Papers 446, Faculty of Economics and Social Sciences, University of Freiburg/Fribourg Switzerland.
    19. Kilsun Kim & Dilip Chhajed, 2002. "Product Design with Multiple Quality-Type Attributes," Management Science, INFORMS, vol. 48(11), pages 1502-1511, November.
    20. Kwong, C.K. & Luo, X.G. & Tang, J.F., 2011. "A methodology for optimal product positioning with engineering constraints consideration," International Journal of Production Economics, Elsevier, vol. 132(1), pages 93-100, July.
    21. Sudharshan, D. & Ravi Kumar, K. & Gruca, Thomas S., 1995. "NICHER: An approach to identifying defensible product positions," European Journal of Operational Research, Elsevier, vol. 84(2), pages 292-309, July.

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