Navigation Links
Advil or Excedrin? New model helps predict product choices
Date:5/30/2008

In today's world, consumers face a dizzying array of product choices. Most often, there's not just one ideal product; it depends on the individual and the context. A beer might be perfect for relaxing after work; a sports beverage after jogging. And a teenager's ideal beverage isn't the same as a business executive's.

A new study in the Journal of Consumer Research shows that multiple ideals can be accurately discovered and then used to predict the preferences of various segments of the population. The authors, Wayne S. DeSarbo (Pennsylvania State University), A. Selin Atalay (Bilkent University, Turkey), David LeBaron, and Simon J. Blanchard (both Pennsylvania State University), developed a model that locates the ideal product in a given situation on a graph.

This new approach has been sorely needed to understand the complexity of how products meet consumers' needs. According to the authors, "Consumers can have more than one ideal product in a given product category. It is therefore essential to understand this aspect of consumer preferences because it can affect how products are promoted to consumers, how new products are designed, and how products are priced and bundled."

The authors used their model to graph the ideal over-the-counter pain relievera $2.1 billion industry with 11 major brands. They identified three groupings of people"price-conscious consumers," "the athletic segment," and "the anti-medication segment." They collected consumers' judgments on the painkillers' effectiveness in various contexts, such as backaches or flu. Using a survey, the model divided up the market into the various segments and showed significant differences among the different consumer types and situations.

For example, price-conscious consumers consider Advil and Tylenol the most effective painkiller overall, but if suffering from a backache, they would be more likely to choose aspirin, or Excedrin for a headache. These differences have been hidden by simpler models.


'/>"/>

Contact: Rudy Faust
rfaust@press.uchicago.edu
773-834-0386
University of Chicago Press Journals
Source:Eurekalert

Related medicine news :

1. Moonview Sanctuary Releases First Case Study of Client Treated Using Unique Moonview Model
2. Pharsight Invited to Present on Modeling and Simulation at ARCS Australia Scientific Congress
3. Intrabody can mop up mutant protein in Huntingtons disease model
4. Researchers develop first transgenic monkey model of Huntingtons disease
5. Partnership of academic centers and community hospitals effective model for disseminating advances
6. Medsn to Become Indegene Pharmaceutical Solutions, Inc.: Change Signifies the Success of Its Innovative Global Services Model
7. Federation of State Medical Boards Takes Interim Steps Toward Maintenance of Licensure Model Policy
8. Pharsight Invited to Present on Antiviral Modeling and Simulation at DIA Adherence Workshop
9. Spinal cord injury research hampered by animal models, says new study
10. Versus Technology, Inc. Announces Collaboration with Cleveland Clinic to Create Clinical Patient Flow Model
11. Zimmer Announces New Compliance Model
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/9/2016)... ... December 09, 2016 , ... MEDI+SIGN®, a provider ... that a new solution for Emergency Departments (ED) has been added to their ... Emergency Department examination rooms, and with a simplified pallet of information available to ...
(Date:12/8/2016)... , ... December 08, 2016 , ... ... with distinction by the Undersea and Hyperbaric Medical Society (UHMS), the leading authority ... care and patient safety. Only a few hospitals and facilities have earned this ...
(Date:12/8/2016)... ... December 08, 2016 , ... Seavest ... Property owned by an affiliate of Seavest, has won a prestigious national healthcare ... Chester County ambulatory care center (ACC) was named “Best New Development, MOBs and ...
(Date:12/8/2016)... ... December 08, 2016 , ... David J. Dykeman , ... Greenberg Traurig, LLP, will speak at DeviceTalks West, Dec. 12, 2016, at the Fairmont ... and attorneys from the firm’s global Life Sciences & Medical Technology Group have been ...
(Date:12/8/2016)... ... 2016 , ... Catalent Pharma Solutions, the leading global provider ... products, today announced that it had joined the Pharmaceutical Supply Chain Initiative (PSCI). ... unite pharmaceutical and healthcare companies that share a vision of better, social, environmental ...
Breaking Medicine News(10 mins):
(Date:12/8/2016)... , Dec. 8, 2016 KEY FINDINGS ... the largest share of the market in 2016 and ... dominance can be attributed to a large number of ... (US hold the largest share in the patient temperature ... benefits such as reducing loss of blood during surgeries, ...
(Date:12/8/2016)... 8, 2016 Research and Markets has announced ... Trends - Adhesion Type, Application, Usability - Forecast to 2025" ... , ... Market is poised to grow at a CAGR of around 3.2% ... market is witnessing include advancements in extracellular microelectrode arrays and intracellular ...
(Date:12/8/2016)... Quebec , Dec. 8, 2016  Valeant ... and TSX: VRX) ("Valeant") today announced positive results ... clinical study to assess the safety and efficacy ... the treatment of plaque psoriasis. ... subjects with moderate to severe psoriasis, IDP-118 showed ...
Breaking Medicine Technology: