Metrics That Matter: Identifying the Importance of Consumer Wants and Needs

Martin RLautman and Koen Pauwels

How can the importance of consumer wants and needs be quantified? Using data sets from multiple consumer brand and advertising tracking studies, several standard traditional market research techniques are compared to vector autoregression (VAR) modeling.

Metrics That Matter: Identifying the Importance of Consumer Wants and Needs

Martin R. LautmanMarketing Channels, Inc.

Koen PauwelsTuck School of Business Dartmouth College

INTRODUCTION

The efficient allocation of marketing and promotion resources frequently is dependent on the ability of an organization to answer the deceptively simple retrospective question, “Why did customers, noncustomers, or prospects act as they did?” or, prospectively “Why did customers, noncustomers, or prospects indicate that they are intending to take some future action?”

Market research practice provides a well-accepted forum for addressing what might be termed the “what” question that underlies the “why” question; that...

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