Virtual test market system and method
First Claim
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1. A test market system comprising:
- a. a virtual launch component, wherein said virtual launch component is capable of generating data regarding product choice probability, b. a transaction component, wherein said transaction component is capable of generating data regarding product repurchase, and c. a marketing simulation component, wherein said product choice probability data and said product repurchase data are input into said marketing simulation component, and wherein said marketing component contains an agent based model which utilizes said product choice probability data and said product repurchase data.
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Abstract
Systems and methods for conducting a virtual test market are disclosed. A system may include a virtual launch component, a transaction component, and a marketing simulation component. The components of the system may be used in combination to obtain, and analyze marketing data relating to a new product offering at a substantially reduced cost and resource level as compared to conventional techniques. The systems and methods disclosed may also be used to perform scenario analyses.
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13 Claims
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1. A test market system comprising:
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a. a virtual launch component, wherein said virtual launch component is capable of generating data regarding product choice probability, b. a transaction component, wherein said transaction component is capable of generating data regarding product repurchase, and c. a marketing simulation component, wherein said product choice probability data and said product repurchase data are input into said marketing simulation component, and wherein said marketing component contains an agent based model which utilizes said product choice probability data and said product repurchase data. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A method of conducting a test market, said method comprising the steps of:
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a. recruiting a representative plurality of consumers, b. providing said consumers with access to a virtual launch component, c. gathering data regarding the product choice probability of said consumers using said virtual launch component, d. providing consumers access to a transaction component, e. gathering repeat purchase data using said transaction component, f. inputting said choice probability data and said repeat purchase data into a marketing simulation component, and g. utilizing said marketing simulation component to model consumer behavior using an agent based model. - View Dependent Claims (10, 11, 12, 13)
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Specification