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ALL CUSTOMERS DIFFER also be exhibiting their X-ray imaging products this year, as they always did. Since 35% of the dentists in the city
ALL CUSTOMERS DIFFER also be exhibiting their X-ray imaging products this year, as they always did. Since 35% of the dentists in the city visited DENTEXPO for at least one day of the three-day event, and Chicago was representative of the average market for DentMax's products, DentMax wished to capitalize on the opportunity offered by DENTEXPO to obtain a snapshot of the entire market. From the RFID-enabled technology, DentMax obtained the following variables for each of the show attendees (n=2,300): Time Spent at DentMax Booth captured by the minutes spent by each attendee at the DentMax booth Time Spent at DentMed Booth captured by the minutes spent by each attendee at the DentMed booth Time Spent at OxyMax Booth captured by the minutes spent by each attendee at the OxyMax booth. Second, DentMax collected the first and last name of each dentist, and their dental practice location for the subsample of DENTEXPO dentists that visited its booth. It matched these details up with its own sales database, to obtain the sales records of the dentists who visited its booth. From this, it determined whether a dentist who visited its booth had purchased from them in the past, and if so, how much they had purchased. DentMax collected the following variables: % Buying from DentMax in the past, coded as 1 if the dentist has ever bought from DentMax, 0 otherwise Historical Sales Index, coded as a scaled number from 0 to 100, where 100 represents the largest sales in dollars Sales Frequency, coded as the yearly number of orders from DentMax Length of Relationship, coded as 2020 - earliest transacted year Number of Referrals, coded as the total number of times the dentist provided a key referral for another sale. Third, using the first and last name of the dentist from the subsample of DENTEXPO dentists who visited its booth, DentMax surveyed the dentists one week after the show. In the survey, it obtained answers to the following questions about the dentists. For each of the questions, 1 was scored as the lowest, 7 was the highest. The questions were as follows: Importance of Image Quality Importance of Diagnostic Flexibility Importance of Software Integration Importance of Technical Assistance Importance of Price Trust in TV Ads Trust in Radio Ads Trust in Internet Ads Trust in Dental Magazine Ads Trust in Peers MARKETING PRINCIPLE #1: ALL CUSTOMERS DIFFER MANAGING CUSTOMER HETEROGENEITY 83 Table 2.6 describes all of the variables and their definitions. Table 2.6 Variables in the Model Variable Trade Show Floor Behavior Past Purchase Behaviors X-Ray Imaging Product Needs Media Trust Time - DentMax Time-DentMed/ OxyMax Time-Show Buying % Historical Sales Sales Frequency Relationship Length Referrals Offered Image Quality Diagnostic Flexibility Software Integration Technical Assistance Price TV Ads Definition Minutes spent at the DentMax booth Minutes spent at the DentMed/OxyMax booth Total minutes spent at the ADA convention Coded as 1 if the dentist has ever bought from DentMax, 0 otherwise A scaled number from 0 to 100, where 100 represents the largest sales in dollars Yearly number of orders from DentMax 2016-earliest transacted date with DentMax Total number of times the dentist provided a key referral for another sale Stated importance of dimension (1 being the lowest, 7 being the highest) Stated importance of dimension (1 being the lowest, 7 being the highest) Stated importance of dimension (1 being the lowest, 7 being the highest) Stated importance of dimension (1 being the lowest, 7 being the highest) Stated importance of dimension (1 being the lowest, 7 being the highest) Stated trust in information source (1 being the lowest, 7 being the highest) Radio Ads Stated trust in information source (1 being the lowest, 7 being the highest) Internet Ads Stated trust in information source (1 being the lowest, 7 being the highest) Dental Magazine Ads Stated trust in information source (1 being the lowest, 7 being the highest) Peers Stated trust in information source (1 being the lowest, 7 being the highest) Source: Getty Images/Jordan Siemens
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