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Analysing markets within the latent class approach: an application to the pharma sector

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  • Francesca Bassi

Abstract

In this paper, the latent class approach is applied to an analysis of the Italian pharmaceutical market. The application serves as an example of how fruitfully latent class methodology can be implemented in marketing research. The sector in question shows a high level of competitiveness, more limited economic budgets than years ago and, at the same time, expensive sales and promotion activities; in this context, it is very important to know the reference market to design appropriate marketing strategies. Taking into account the hierarchical structure of the data, this paper: (i) identifies groups of doctors with similar attitudes toward pharmaceutical representatives' work and (ii) verifies which aspects of promotional activity are significant to influence prescription quantities. Copyright © 2012 John Wiley & Sons, Ltd.

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  • Francesca Bassi, 2013. "Analysing markets within the latent class approach: an application to the pharma sector," Applied Stochastic Models in Business and Industry, John Wiley & Sons, vol. 29(3), pages 199-207, May.
    • Handle: RePEc:wly:apsmbi:v:29:y:2013:i:3:p:199-207
    DOI: 10.1002/asmb.1910
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    Cited by:

    1. Francesca Bassi & Fulvia Pennoni & Luca Rossetto, 2020. "The Italian market of sparkling wines: Latent variable models for brand positioning, customer loyalty, and transitions across brands' preferences," Agribusiness, John Wiley & Sons, Ltd., vol. 36(4), pages 542-567, October.
    2. Francesca Bassi, 2016. "Dynamic segmentation with growth mixture models," Advances in Data Analysis and Classification, Springer;German Classification Society - Gesellschaft für Klassifikation (GfKl);Japanese Classification Society (JCS);Classification and Data Analysis Group of the Italian Statistical Society (CLADAG);International Federation of Classification Societies (IFCS), vol. 10(2), pages 263-279, June.

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