Multinomial Logistic Regression model to measure the customer preferences respect to the pharmaceutical sector: case Ambato, Ecuador
Context: The investigation includes the Ecuadorian pharmaceutical market from the business competitive point of view, focusing on the service offered by the Farmacias Cruz Azul and Farmacias Económicas franchises. Aims: To determine the main variables that influence the consumer’s choice, in the...
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| Format: | Article |
| Language: | English |
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GarVal Editorial Ltda.
2018-07-01
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| Series: | Journal of Pharmacy & Pharmacognosy Research |
| Subjects: | |
| Online Access: | http://jppres.com/jppres/pdf/vol6/jppres18.365_6.4.318.pdf |
| _version_ | 1818367993882607616 |
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| author | Edison R. Valencia Álvaro J. Bonifaz |
| author_facet | Edison R. Valencia Álvaro J. Bonifaz |
| author_sort | Edison R. Valencia |
| collection | DOAJ |
| description | Context: The investigation includes the Ecuadorian pharmaceutical market from the business competitive point of view, focusing on the service offered by the Farmacias Cruz Azul and Farmacias Económicas franchises.
Aims: To determine the main variables that influence the consumer’s choice, in the pharmaceutical sector, and generate a predictive model of competitive analysis.
Methods: Through the Multinomial Logistic Regression Model was obtained the significant variables that helped to predict the customer’s pharmacy choice. The study was conducted in the zone number 3, center of the country, whose sample was calculated based on the infinite population formula. A total of 393 clients were surveyed in the main public and private health centers.
Results: After establishing the dependent variable “Choice of Pharmacy”; Of the eight variables under study, the relevant independent variables were: Reason for choice, Fidelity and Low prices with a level of significance of 0.003, 0.001 and 0.000, respectively. Final variables and introduced to the regression model; which resulted, a probability of 16.82% that customers go to Farmacias Cruz Azul, 77.12% to choose Farmacias Económicas, and only 0.63% to go to another pharmacy, including independent.
Conclusions: The Multinomial Logistic Regression Model was useful to predict the probability of choice of pharmacy, which a client has according to variables that represent service; allowing also to perform key simulations for the continuous improvement of the sector, planning and competitive analysis. |
| first_indexed | 2024-12-13T23:00:53Z |
| format | Article |
| id | doaj.art-a34b5cc7c3e046768f9e0341f467780b |
| institution | Directory Open Access Journal |
| issn | 0719-4250 |
| language | English |
| last_indexed | 2024-12-13T23:00:53Z |
| publishDate | 2018-07-01 |
| publisher | GarVal Editorial Ltda. |
| record_format | Article |
| series | Journal of Pharmacy & Pharmacognosy Research |
| spelling | doaj.art-a34b5cc7c3e046768f9e0341f467780b2022-12-21T23:28:24ZengGarVal Editorial Ltda.Journal of Pharmacy & Pharmacognosy Research0719-42502018-07-0164318325Multinomial Logistic Regression model to measure the customer preferences respect to the pharmaceutical sector: case Ambato, EcuadorEdison R. Valencia0Álvaro J. Bonifaz1Facultad de Contabilidad y Auditoría, Universidad Técnica de Ambato. Av. Los Chasquis S/N y Río Payamino. CP 180103. Ambato, Ecuador.Laboratorios LIFE. Juan Galarza Oe2-22 y Avenida de la Prensa. CP 170510. Quito, Ecuador.Context: The investigation includes the Ecuadorian pharmaceutical market from the business competitive point of view, focusing on the service offered by the Farmacias Cruz Azul and Farmacias Económicas franchises. Aims: To determine the main variables that influence the consumer’s choice, in the pharmaceutical sector, and generate a predictive model of competitive analysis. Methods: Through the Multinomial Logistic Regression Model was obtained the significant variables that helped to predict the customer’s pharmacy choice. The study was conducted in the zone number 3, center of the country, whose sample was calculated based on the infinite population formula. A total of 393 clients were surveyed in the main public and private health centers. Results: After establishing the dependent variable “Choice of Pharmacy”; Of the eight variables under study, the relevant independent variables were: Reason for choice, Fidelity and Low prices with a level of significance of 0.003, 0.001 and 0.000, respectively. Final variables and introduced to the regression model; which resulted, a probability of 16.82% that customers go to Farmacias Cruz Azul, 77.12% to choose Farmacias Económicas, and only 0.63% to go to another pharmacy, including independent. Conclusions: The Multinomial Logistic Regression Model was useful to predict the probability of choice of pharmacy, which a client has according to variables that represent service; allowing also to perform key simulations for the continuous improvement of the sector, planning and competitive analysis.http://jppres.com/jppres/pdf/vol6/jppres18.365_6.4.318.pdfMultinomial Logistic Regression Modelpharmaceutical marketprobability |
| spellingShingle | Edison R. Valencia Álvaro J. Bonifaz Multinomial Logistic Regression model to measure the customer preferences respect to the pharmaceutical sector: case Ambato, Ecuador Journal of Pharmacy & Pharmacognosy Research Multinomial Logistic Regression Model pharmaceutical market probability |
| title | Multinomial Logistic Regression model to measure the customer preferences respect to the pharmaceutical sector: case Ambato, Ecuador |
| title_full | Multinomial Logistic Regression model to measure the customer preferences respect to the pharmaceutical sector: case Ambato, Ecuador |
| title_fullStr | Multinomial Logistic Regression model to measure the customer preferences respect to the pharmaceutical sector: case Ambato, Ecuador |
| title_full_unstemmed | Multinomial Logistic Regression model to measure the customer preferences respect to the pharmaceutical sector: case Ambato, Ecuador |
| title_short | Multinomial Logistic Regression model to measure the customer preferences respect to the pharmaceutical sector: case Ambato, Ecuador |
| title_sort | multinomial logistic regression model to measure the customer preferences respect to the pharmaceutical sector case ambato ecuador |
| topic | Multinomial Logistic Regression Model pharmaceutical market probability |
| url | http://jppres.com/jppres/pdf/vol6/jppres18.365_6.4.318.pdf |
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