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Web-based technique refines market research methods.
Member rating: No Rating | Words: | Submitted: Sun Mar 17 2002
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Interamerican University of Puerto Rico Graduate Studies Department San German Campus Web-based technique refines market research methods Article 1 BADM 5060 MIS Prof. Luis Zornosa Jorge L Nieves Hernández 583-79-8330 3/14/2002 Summary: Nowadays a market research project can take several weeks and cost several thousands dollars. A team of marketing professors and students from MIT Sloan program has developed what is called Virtual customer Initiative (VCI). The goal of the project was to help firms to determine customer wants in a faster and more accurate way than traditional Markey research tools. VCI is a web based application that combines complex calculations and multimedia tools to obtain customer feedback. It uses six web based methods to pinpoint customer preferences. Some tools are based on computer driven mathematical formulations that determine customer attributes for pricing for a given product. VCI source code is available free. The team surveyed hundreds of people to test the application using the case of new vehicles preferences. The system...
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