Market simulation model
First Claim
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1. A method for performing market simulation, the method comprising:
- receiving consumer data including one or more ratings of a product characteristic, the ratings reflecting a latent measure of the product characteristic;
representing the ratings as a probability distribution;
varying the latent measure of the product characteristic;
creating an updated probability distribution in response to the varying; and
analyzing a sensitivity of market share to the product characteristic, the analyzing responsive to the probability distribution and to the updated probability distribution.
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Abstract
Methods and computer program products for providing a market simulation model. A method includes receiving consumer data including one or more ratings of a product characteristic, the ratings reflecting a latent measure of the product characteristic. The ratings are represented as a probability distribution. The latent measure of the product characteristic is varied and an updated probability distribution is created in response to the varying. A sensitivity of market share to the product characteristic is analyzed based on the probability distribution and to the updated probability distribution.
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Citations
20 Claims
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1. A method for performing market simulation, the method comprising:
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receiving consumer data including one or more ratings of a product characteristic, the ratings reflecting a latent measure of the product characteristic;
representing the ratings as a probability distribution;
varying the latent measure of the product characteristic;
creating an updated probability distribution in response to the varying; and
analyzing a sensitivity of market share to the product characteristic, the analyzing responsive to the probability distribution and to the updated probability distribution. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A method for performing market simulation, the method comprising:
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receiving consumer data including one or more ratings of a product characteristic, the ratings reflecting a latent measure of the product characteristic;
representing the ratings as a probability distribution;
calculating a change to the latent measure of the product characteristic based on a specified change to a top-box proportion of the probability distribution or based on a specified change to a mean observed rating of the product characteristic;
calculating a low distribution of the data in response to the calculated change in the latent measure;
calculating a high distribution of the data in response to the calculated change in the latent measure; and
calculating change in product share caused by the change in the latent measure of the product characteristic in response to the low and high distributions of the data. - View Dependent Claims (12, 13, 14, 15, 16)
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17. A computer program product for performing market simulation, the computer program product comprising:
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a storage medium readable by a processing circuit and storing instructions for execution by the processing circuit for performing a method comprising;
receiving consumer data including one or more ratings of a product characteristic, the ratings reflecting a latent measure, of the product characteristic;
representing the ratings as a probability distribution;
varying the latent measure of the product characteristic;
creating an updated probability distribution in response to the varying; and
analyzing a sensitivity of market share to the product characteristic, the analyzing responsive to the probability distribution and to the updated probability distribution. - View Dependent Claims (18, 19, 20)
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Specification