Journal Selections from MSI
“Big Search” Data Yields Competitive Maps
New approach enables visualization of complex market structures.
Daniel Ringel and Bernd Skiera offer an approach to develop spatial maps of competition when there are large numbers of brands and product forms and where traditional scaling methods cannot be used.
Integrating data from a product- and price-comparison site with over 1,000 products and 56 brands into a new modeling and two-dimensional mapping approach, they show that their approach has a high degree of external validity and outperforms traditional models such as multidimensional scaling.
Their model enables better decision making: manufacturers can quickly see how a market is organized, how many submarkets exist, how markets are changing, and which competitors they face in each submarket, enabling retailers to make better marketing, purchasing and inventory management decisions.
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Visualizing Asymmetric Competition Among More Than 1,000 Products Using Big Search Data by Daniel M. Ringel and Bernd Skiera, Marketing Science (May-June 2016)
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