Intent scale translation
Encyclopedia
Intent scale translation is a mathematical technique used by marketers
to convert stated purchase intentions into purchase probabilities, that is, into an estimate of actual buying behaviour. It takes survey data
on consumers purchase intentions and converts it into actual purchase probabilities.
A survey might ask a question
using a five-point scale
such as :
Which is most true about product X?
A marketing researcher will first assign numerical values to these intention categories. If the numbers range form zero to one, they can be thought of as intent probabilities. This is a typical example:
Next, the researcher uses a predefined functional relationship to convert the stated intentions into estimates of actual purchase probabilities. The diagram that follows illustrates one such translation function. If a survey respondent were to choose a response of “definitely” and an intent probability of .99 was assigned to that category, then the actual probability of purchase could be read off the vertical axis. The translation function gives a value of about .8, indicating the specifiers of the function feel that not all people that claim they definitely intend to purchase will actually purchase.
If a survey respondent were to choose a response of “probably not” and an intent probability of .25 was assigned to that category, then the actual probability of purchase could be read off the vertical axis as .35, indicating the specifiers of the function feel that some people that claim they probably will not purchase will actually purchase.
Other purchase intention/rating translations include logit analysis and the preference-rank translation
.
See also : marketing research
, New Product Development
, marketing
, preference regression
, quantitative marketing research
Marketing
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...
to convert stated purchase intentions into purchase probabilities, that is, into an estimate of actual buying behaviour. It takes survey data
Statistical survey
Survey methodology is the field that studies surveys, that is, the sample of individuals from a population with a view towards making statistical inferences about the population using the sample. Polls about public opinion, such as political beliefs, are reported in the news media in democracies....
on consumers purchase intentions and converts it into actual purchase probabilities.
A survey might ask a question
Questionnaire construction
A questionnaire is a series of questions asked to individuals to obtain statistically useful information about a given topic. When properly constructed and responsibly administered, questionnaires become a vital instrument by which statements can be made about specific groups or people or entire...
using a five-point scale
Scale (social sciences)
In the social sciences, scaling is the process of measuring or ordering entities with respect to quantitative attributes or traits. For example, a scaling technique might involve estimating individuals' levels of extraversion, or the perceived quality of products...
such as :
Which is most true about product X?
- ___ I definitely would use product X
- ___ I probably would use product X
- ___ I might use product X
- ___ I probably would not use product X
- ___ I definitely would not use product X
A marketing researcher will first assign numerical values to these intention categories. If the numbers range form zero to one, they can be thought of as intent probabilities. This is a typical example:
- definitely -> .99
- probably -> .75
- maybe -> .5
- probably not -> .25
- definitely not -> .01
Next, the researcher uses a predefined functional relationship to convert the stated intentions into estimates of actual purchase probabilities. The diagram that follows illustrates one such translation function. If a survey respondent were to choose a response of “definitely” and an intent probability of .99 was assigned to that category, then the actual probability of purchase could be read off the vertical axis. The translation function gives a value of about .8, indicating the specifiers of the function feel that not all people that claim they definitely intend to purchase will actually purchase.
If a survey respondent were to choose a response of “probably not” and an intent probability of .25 was assigned to that category, then the actual probability of purchase could be read off the vertical axis as .35, indicating the specifiers of the function feel that some people that claim they probably will not purchase will actually purchase.
Other purchase intention/rating translations include logit analysis and the preference-rank translation
Preference-rank translation
Preference-rank translation is a mathematical technique used by marketers to convert stated preferences into purchase probabilities, that is, into an estimate of actual buying behaviour...
.
See also : marketing research
Marketing research
Marketing research is "the function that links the consumer, customer, and public to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve...
, New Product Development
New product development
In business and engineering, new product development is the term used to describe the complete process of bringing a new product to market. A product is a set of benefits offered for exchange and can be tangible or intangible...
, marketing
Marketing
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...
, preference regression
Preference regression (in marketing)
Preference regression is a statistical technique used by marketers to determine consumers’ preferred core benefits. It usually supplements product positioning techniques like multi dimensional scaling or factor analysis and is used to create ideal vectors on perceptual maps.-Application:Starting...
, quantitative marketing research
Quantitative marketing research
Quantitative marketing research is the application of quantitative research techniques to the field of marketing. It has roots in both the positivist view of the world, and the modern marketing viewpoint that marketing is an interactive process in which both the buyer and seller reach a satisfying...