Brand Positioning Strategy using Hedonic Pricing Analysis: A Study of Facial Recognition and Identity Solution Market

The facial recognition and identity solution industry was a USD 3.4 billion market in 2019 which is growing at a rate of 14.5%. Unsurprisingly, this untapped market is a target market for different technology firms but such lucrative markets also have some issues due to the ‘young’ nature of the sector. The main difficulty is the absence of any established reference brand with which a new entrant firm can map their brand and position it in the market. Business analytics techniques can come in handy in such situations by developing a model that provides a snap-shot of product features that are contributing to the value brand in this competitive market. A firm can plan its strategic marketing initiatives such as brand positioning strategy, sales pitch preparation, and promotional activities according to the results of the analytics model to gain an early competitive advantage in this novel market.

Faculty Supervisor:

Fredrik Odegaard

Student:

Sudipendra Nath Roy

Partner:

Applied Recognition Corp

Discipline:

Other

Sector:

Information and cultural industries

University:

Western University