The maturation of online social commerce has opened the door to a new type of market research. This new form is rooted in the fluid world of social engagement, where customer product experience proves as challenging to MR as the transition from telephone to online. Coupling online measurement and rich user generated content challenges our notions of predictive analytics and the power of narratives. Embracing semantically empowered tools and behavioral metrics in a social commerce environment promises business insights that more easily connect with the rapidly changing world of contemporary commerce.
Both quantitative and qualitative researchers often rely on measures of perceived value to gauge interest and purchase likelihood for new product concepts. But do assessments of value provide meaningful purchase heuristics? If so, can small sample tests be improved as assessment tools through the application of statistical procedures involving non-traditional market research techniques such as Monte Carlo simulations? This paper provides the results of exploratory research and analysis into these subjects. Research results suggest that meaningful estimates of purchase likelihood can be derived from the Price Sensitivity Meter (PSM) technique with thoughtful application of Monte Carlo simulation techniques. Research also suggests that Monte Carlo simulations correct for an inherently optimistic dynamic within traditional PSM analysis.
Ford of Canada has approached the problem of a heterogeneous Canadian market with a great deal of sensitivity. Historically, Ford has not been as successful matching its penetration of the Quebec market to levels obtained in the rest of Canada. This has meant that Ford has had to wrestle with the dual market nature of the Canadian automobile industry in very practical terms. The following paper discusses how Ford has approached a marketing strategy within Canada and Quebec. While this approach has involved both organisational development and informed market practices, it is the latter which will be the primary focus of this paper.