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Mapping Lodging Industry Market Structure from Customer Reviews Using Machine Learning and Language Models

Sayyahi, Mostafa | 2020

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  1. Type of Document: M.Sc. Thesis
  2. Language: Farsi
  3. Document No: 53681 (44)
  4. University: Sharif University of Technology
  5. Department: Management and Economics
  6. Advisor(s): Najmi, Manouchehr; Soleymani, Mahdieh
  7. Abstract:
  8. Brand perceptual mapping is a way to display the market structure in a particular industry. In the past, marketing managers relied on questionnaires and focus-groups' data to map the market structure and extract insights from it. These methods are expensive, time-consuming, and not generalizable due to the small sample size. With the expansion of social media, new techniques have been introduced that can map the market structure by analyzing user-generated content on social media. Currently, methods used for this task are automated methods based on the bag-of-word model, which ignores the meaning of words and sentences and needs big datasets. In this research, using language models and machine learning, a framework is proposed through which the market structure is extracted from customers' opinions considering the context and meaning of words and sentences. The results show that this method is able to show the distinction between sub-brands, brands and hotel classes in the lodging industry, and chart the market structure in different dimensions by labeling a small part of customers' reviews. The previous methods, due to the need for more data, are only able to extract the market structure in the brand and hotel class layers, while the proposed method can plot the market structure in the hotels' layer. This allows marketing managers to gain a more accurate understanding of the market structure and brand positioning
  9. Keywords:
  10. Brand Perceptual Map ; User Generated Content ; Machine Learning ; Language Model ; Market Mechanism ; Hotel Industry ; Brand Personality

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