Glasgow Insights

 One of the off shoots of Game Theory is Choice Based Conjoint Analysis (CBC) , which is often used in Market Research to understand how people choose when presented with different product or service options. This in-turn helps businesses identify the more important features that drive consumer preferences and influence decision-making, and thereby impact sales and other key performance indicators. Thus, this technique is often used to strategize a company’s Marketing Mix Modeling (MMM). This is typically done by analyzing different components of the marketing mix (such as advertising, pricing, distribution, promotions, etc.) in terms of their contributions in driving business outcomes. Below are a few examples of how Market Researchers use the CBC to plan the MMM: Guide Product Design and Product Pricing strategies in the conceptualization / development stage of a Product Life Cycle Understand the relative importance of the various elements creating the current marketing mix (in ...

  The Government of the United Arab Emirates supports the automotive sector as a key revenue generator. As a result, it is one of the fastest-growing automobile markets in the Middle East region. Click Here : https://www.glasgowinsights.com/blog/uae-passenger-car-vehicles-on-road-is-around-3-million-units-in-2022/ After the 2008 financial crisis, the UAE automotive market gradually began to recover. There was outstanding growth between late 2010 to early 2015. This growth was disrupted in the second half of 2015 as oil revenue declined. The situation turned for the better in 2019, but soon Covid pandemic hit the country affecting the sales of the automobile. While the sales of new cars dropped by almost 50%, the market for used and pre-owned cars saw a rise in sales. With the air of uncertainty in the economic sector, earnings dipped and consumers preferred to buy second-hand cars. Many auto manufacturing companies were forced to halt the production of new cars, resulting in a sur...