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By Allie Holmes I recently attended the Quirk’s Chicago Event 2023, one of the premier industry conferences for marketing research and insights professionals, and one
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Predictive Path to Purchase takes a more preemptive and proactive view of the myriad possible pathways, and charts potential and probable customer journeys — even those that don’t yet exist but potentially could and should.
Companies that embark on Predictive Path to Purchase studies often report some combination of increased confidence in their existing marketing strategies coupled with valuable, previously unconsidered insights that become extremely beneficial competitive advantages.
For an in-depth explanation of why Predictive Path to Purchase studies are so important in the modern media landscape, please see our article, “How to Apply ‘Predictive Path to Purchase’ to Better Understand Customer Behavior.”
In this article, we’ll examine Martec’s approach to this methodology.
Too often companies only consider their own pricing strategies when it might be wiser to consider them within the full context of competitive pricing. Making decisions without analyzing a comprehensive set of data can lead to missteps and missed opportunities—opportunities to increase market share, penetrate new and adjacent markets, assume premium position in the market, or increase profit margins by examining the entire value chain against competitive pricing.
Benefit-Value Analysis (BVA) is a proprietary methodology developed by Martec to gain insights from an intended market to determine appropriate and acceptable pricing strategies on products before they are introduced and released into the marketplace.