Consumer preferences are importantMost marketing managers rely on data that capture past behavior. They overlook valuable information that can be mined from social media sources to provide a wealth of insight into consumer preferences. If I find out what someone’s preference is today, I can predict his or her actions tomorrow—and try to influence the future behavior I anticipate. At a pharmaceutical company where we conducted research, we found that by knowing physician drug preferences, we could tell early on if a doctor could be retained as a customer—and how valuable that relationship would be over time. That information also allowed the sales force to focus on high-potential doctors based on preferences.
Posted on: Mon, 01 Sep 2014 04:05:32 +0000
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