Modeling Applications
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Applications of Market Modeling
Applications:
Discriminant Analysis A successful technique to differentiate within groups and predict group membership characteristics
Uncovering characteristics of groups most likely to purchase products
Determining the qualities of first time customers to predict repeat business
Regression             (Linear, Non-Linear, Logistic etc) Any number of independent variables can be inserted into the model to determine their influence on certain dependent variables

Which variables are affecting the success of a product? It may be price, competition, time of the year, or any other variable

Loglinear Analysis All variables that are used for classifications are independent variables and dependent variable is the number of cases in a cell of the cross-tabulation analysis
Predicts newsreader recognition among television viewers
Projects the selection of bonus options among frequent buyers
Predicts style preference among new buyers 
Probit Analysis Is a model to express the relationship between the proportion responding and the " dose" of one or more stimuli
Examining the success/failure of Advertising campaigns
Predicting buy/not buy patterns among prospects
Multidimensional Scaling Is designed to analyze distance like data, called dissimilarity data or data that indicate the degree of dissimilarity or similarity of two things

 MSc has its origin in psychometrics, where it was proposed to help understand people's judgments of the similarity of members of a set objects

Identifies attributes, which may influence  consumer product preference
Research "Informal endorsements", by examining multiple forms of communications among business executives
Locate difference among television viewers in their perceptions of advertising campaigns
Chaid Chi-squared Automatic Interaction Detector
Analyzing respondents, when we are trying to predict purchasing patterns of new products
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