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SEP
16
Imaginary Stocks Let Workers Forecast Whether Retailer's Plans Will Meet Goals
Wall Street Journal,
September 16, 2008 —
When executives at electronics retailer Best Buy Co. want to know if a new product or idea is likely to succeed, they can seek the opinion of rank-and-file employees by turning to the company's "prediction market."
The market, called TagTrade, allows Best Buy's workers to trade imaginary stocks based on answers to managers' questions. The market's judgment has often proved to be more accurate than the company's official forecasts.
APR
29
By Erik Long,
April 29, 2008 —
Driven by Web 2.0-based technologies, marketing science is taking quantum leaps in the development of exciting methodologies that add more capabilities to the traditional analytics toolbox.
The convergence of the “old” qualitative and quantitative approaches with the “new” Web-based platforms is creating a more integrated approach to determining what works best in developing customer insights. This happy marriage hits the trifecta for marketing professionals. It saves time. It saves money. And... continue reading
FEB
29
New York Times,
February 29, 2008 —
These days, designing a new mobile phone can seem like something out of an episode of “Dr. Phil.”
LG Electronics, the maker of the Chocolate and Voyager phones, begins by asking focus groups to keep a journal, jotting down feelings about features they like most. Participants can call a toll-free number to share their emotions about the phone they are testing. And sometimes they are asked to draw pictures that represent their mood when they hold the phone.
“Our job is to be behaviorists and psychologists,” said Ehtisham Rabbani, LG’s vice president for product strategy and marketing. “We constantly have to be reminding ourselves that we tend to be geek types and our customers are not.”
Executives and industry analysts say it has become... continue reading
JAN
14
Proprietary Panels Help Consumer Companies Shape Products, Ads
Wall Street Journal,
January 14, 2008 —
When Del Monte Foods was considering a new breakfast treat for dogs, it sent out a note to an online community of dog owners asking them what they most wanted to feed their pets in the morning. The consensus answer was something with a bacon-and-egg taste. The result: Last summer, Del Monte introduced its Snausages Breakfast Bites.
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