Millennium Research Group has launched Perception Pulse, a new tool that allows clients to track, quantify, and assess the dynamics of customer behavior and loyalty in the dental implant market.
For example, the top five dental manufacturers in the U.S. scored very differently on customer advocacy, defined as a customers' willingness to recommend a company to colleagues and friends, the company noted in a press release. Research has shown this willingness to refer is a key leading indicator of revenue growth.
"There were many interesting findings from the first Dental Implant Perception Pulse study," said Ken McLaren, vice president at Millennium, in the release. "Based on the results from our semiannual study in the U.S., the number one reason for customers switching dental implant manufacturers is neither cost nor quality; interestingly, the decision is largely influenced by referrals from colleagues."
Perception Pulse allows companies to see the derived importance of various perception attributes, defined as product and company features that influence loyalty behavior and purchasing decisions. Survey respondents rank these attributes, which can include factors such as product success rates or company image, in order of importance, thereby enabling firms to focus on those attributes that have the most impact on customer purchasing decisions. Respondents then score each manufacturer on of these attributes, allowing companies to assess their relative performance and to better focus their sales, marketing, and product development efforts.
Perception Pulse is currently available in the U.S. dental implant and interventional cardiology markets, and is expected to expand into other major medical markets and geographies throughout 2009.
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