Automated Marketing Research Using Online Customer Reviews

Abstract:     
Market structure analysis is a basic pillar of marketing research. Classic challenges in marketing such as pricing, campaign management, brand positioning, and new product development are rooted in an analysis of product substitutes and complements in the marketplace inferred from such structures.

In this paper, we present a method to support the analysis and visualization of market structure by automatically eliciting product attributes, and brand’s relative positions, from online customer reviews. First, we discover attributes and attribute dimensions using the "voice of the consumer,” as reflected in customer reviews, rather than that of manufacturers. Second, the approach runs automatically. Third, we support rather than supplant managerial judgment by reinforcing or augmenting attributes and dimensions found through traditional surveys and focus groups.

We test the approach on three different product domains: a rapidly evolving technology market, a mature market, and a service good. We analyze and visualize results in several different ways including comparisons to expert buying guides, a laboratory survey, and Correspondence Analysis of automatically discovered attributes.

Number of Pages in PDF File: 64

Keywords: Market Structure Analysis, Online Customer Reviews, Text Mining

JEL Classification: C42, C50

working papers series