Method and system for analyzing the effectiveness of marketing strategies
A method and system for analyzing a “detail” (the use of promotional materials in combination with a sales pitch), measures the effectiveness of a sales presentation and its ability to drive market share through a standardized, quantitative evaluation of the entire sale presentation and its related components. The method includes administering a two, different surveys. The first survey, the Detail Performance Monitor survey, comprises an “in the field” test of how respondents are responding to various marketing strategies by tracking subsequent behavioral data of the respondents and comparing the behavioral data to the survey results. The second survey, the Detail Assessment survey, comprises an “in the lab” test of how various marketing strategies affect respondent attitude towards a product by comparing respondent attitude before and after presentation of a simulated “detail” that represents the marketing strategy.
1. A method for analyzing the effectiveness of marketing strategies for various competing products in a market, the method comprising:
administering a first survey relative to marketing materials that have multiple components for several of the various competing products, wherein first survey results are provided by a first group of respondents in a target industry corresponding to the market;
tracking subsequent behavioral data of the first group of respondents;
determining, based on the first survey results and the subsequent behavioral data, which components of the marketing materials for the several of the various competing products most significantly effect subsequent respondent behavior;
creating on a computer a first statistical model based on the first survey results, wherein the first statistical model represents an overall ability of the marketing materials for the several of the various competing products to influence respondent behavior;
administering a second survey to a second group of respondents for at least one competing product of the various competing products that is different from the several of the various competing products analyzed in the first survey, wherein the second survey consists of at least one module and wherein the second group of respondents provide second survey results in response to at least one marketing sample;
determining respondent attitude of the second group of respondents to the at least one competing product before said second group of respondents are exposed to the at least one marketing sample;
tabulating on a computer the second survey results of the at least one module;
determining what effect the at least one marketing sample had on respondent attitude of the second group of respondents regarding the at least one competing product of the various competing products;
determining how the at least one marketing sample can be expected to affect future behavior of the respondents;
creating on a computer a second statistical model based on the second survey results, wherein the second statistical model represents an overall ability of the marketing materials for the at least one competing product of the various competing products to influence respondent behavior; and
comparing the first statistical model to the second statistical model, wherein the comparison indicates the effectiveness of the marketing materials for the at least one competing product with respect to the marketing materials for the several of the various competing products.
2. The method of claim 1 , wherein the first group of respondents and the second group of respondents have overlapping members.
3. The method of claim 1 , wherein the first statistical model is represented by a score.
4. The method of claim 3 , wherein the score ranges from 1 to 100, wherein a score of 1 represents a failure of the marketing materials of the several of the various competing products to influence respondent's behavior.
5. The method of claim 1 , further comprising creating an index, wherein the index represents a comparison of the first statistical model of the marketing materials for the several of the various competing products to an expected statistical model based on the lifecycle of the several of the various competing products.
6. The method of claim 5 , wherein the index is normalized to a baseline such that an index above the baseline indicates that the marketing materials for the several of the various competing products is more effective than expected given the several of the various competing products' time on the market.
7. The method of claim 1 , wherein the second statistical model is represented by a score.
8. The method of claim 7 , wherein the score ranges from 1 to 100, wherein a score of 1 represents a failure of the marketing materials of the at least one competing product of the various competing products to influence respondent's behavior.
9. The method of claim 1 , further comprising creating an index, wherein the index represents a comparison of the second statistical model of the marketing materials for the at least one product competing product of the various competing products to an expected statistical model based on the at least one competing product's lifecycle.
10. The method of claim 9 , wherein the index is normalized to a baseline such that an index above the baseline indicates that the marketing materials for the at least one competing product is more effective than expected given the at least one competing product's time on the market.
11. The method of claim 1 , wherein the step of determining which components of the marketing materials most significantly affected subsequent respondent behavior comprises employing statistical processing against the survey results and the subsequent behavioral data.
12. The method of claim 11 , wherein the statistical processing comprises pooled regression.
13. The method of claim 1 , wherein the marketing strategy is a marketing presentation, which comprises at least one of a visual component and a verbal component.
14. The method of claim 1 , wherein the marketing presentation is a pharmaceutical detail and the respondents comprise physicians.
15. The method of claim 14 , wherein the subsequent behavioral data comprises subsequent pharmaceutical prescribing behavior of the respondent physicians.
16. The method of claim 1 , wherein the components of the marketing materials include visual material and audio.
17. The method of claim 1 , wherein the at least one marketing sample includes visual material and audio.
18. A method for analyzing the effectiveness of marketing strategies for various competing products in a market, the method comprising steps of:
administering a first survey relative to marketing materials that have multiple components for several competing products, wherein first survey results are provided by a first group of respondents in a target industry corresponding to the market;
administering a second survey, different from the first, to a second group of respondents, non-identical to the first group of respondents, for at least one competing product of the various competing products analyzed in the first survey, wherein the second survey consists of at least one module and wherein the second group of respondents provides second survey results in response to at least one marketing sample;
determining on a computer, based on a comparison of the first survey results and the second survey results, the effectiveness of the marketing materials for the at least one competing product with respect to the marketing materials for the several of the various competing products;
tracking subsequent behavioral data of the first group of respondents;
determining, based on the first survey results and the subsequent behavioral data, which components of the marketing materials for the several of the various competing products most significantly effect subsequent respondent behavior; and
creating on a computer, a statistical model based on the first survey results, wherein the statistical model represents an overall ability of the marketing materials for the several of the various competing products to influence respondent behavior; and
creating an index, wherein the index represents a comparison of the statistical model of the marketing materials for the several of the various competing products to an expected statistical model based on the lifecycle of the several of the various competing products.
19. The method of claim 18 , wherein the index is normalized to a baseline such that an index above the baseline indicates that the marketing materials for the several of the various competing products is more effective than expected given the several of the various competing products' time on the market.
20. A method for analyzing the effectiveness of marketing strategies for various competing products in a market, the method comprising steps of:
administering a first survey relative to marketing materials that have multiple components for several competing products, wherein first survey results are provided by a first group of respondents in a target industry corresponding to the market;
administering a second survey, different from the first, to a second group of respondents, non-identical to the first group of respondents, for at least one competing product of the various competing products analyzed in the first survey, wherein the second survey consists of at least one module and wherein the second group of respondents provides second survey results in response to at least one marketing sample; and
determining on a computer, based on a comparison of the first survey results and the second survey results, the effectiveness of the marketing materials for the at least one competing product with respect to the marketing materials for the several of the various competing products;
determining respondent attitude of the second group of respondents to the at least one competing product before the first group of respondents are exposed to the at least one marketing materials;
tabulating on a computer the second survey results of the at least one module;
determining what affect the at least one marketing sample had on respondent attitude of the second group of respondents regarding the at least one competing product of the various competing products;
determining how the at least one marketing sample can be expected to affect future behavior of the second group of respondents; and
creating, on a computer, a statistical model based on the second survey results, wherein the second statistical model represents an overall ability of the marketing materials for the at least one competing product of the various competing products to influence respondent behavior.
21. The method of claim 20 , wherein the statistical model is represented by a score.
22. The method of claim 21 , wherein the score ranges from 1 to 100, wherein a score of 1 represents a failure of the marketing materials of the at least one competing product of the various competing products to influence respondent's behavior.
23. The method of claim 21 , further comprising creating an index, wherein the index represents a comparison of the statistical model of the marketing materials for the at least one product competing product of the various competing products to an expected statistical model based on the at least one competing product's lifecycle.
24. The method of claim 23 , wherein the index is normalized to a baseline such that an index above the baseline indicates that the marketing materials for the at least one competing product is more effective than expected given the at least one competing product's time on the market.