Dr. D. Anthony Miles is helping bring new insight to the way consumers evaluate products and make potential investment decisions.

Dr. Miles, along with researchers Joshua Garcia and d.t. ogilvie, recently published a study titled Value Proposition, Differentiation, and Target Market Orientation in New Product Evaluation: Evidence From a Focus Group Study of the Television Program Shark Tank.

The study appears in the 2026 edition of Economics and Business Quarterly Reviews, a peer-reviewed international journal published by the Asian Institute of Research.

Turning Popular Television Into Academic Research

Shark Tank has entertained audiences for years by giving entrepreneurs an opportunity to pitch their products and business ideas to a panel of successful investors. Dr. Miles and his fellow researchers took the popular television format a step further by using it to study consumer behavior, product evaluation, and investment decision-making.

The research examined how MBA students and working professionals responded to products presented on the program. Participants watched selected Shark Tank episodes, discussed the featured products, and completed surveys about whether they believed the products represented worthwhile investment opportunities.

The project included 22 focus groups, more than 1,300 participants, and evaluations of 124 products featured on Shark Tank. The research was conducted over approximately ten years.

Four Factors Behind Product Decisions

The researchers focused on four important marketing concepts:

• Value proposition: Whether a product offers a clear and meaningful benefit.
• Product timing: Whether the product is being introduced at the right time.
• Differentiation: Whether the product stands apart from competing products.
• Target market: Whether the intended customer base is clearly defined.

The study found that consumers do not usually rely on one factor alone when evaluating a new product. Instead, the four marketing concepts were more influential when considered together.

This finding offers an important lesson for entrepreneurs. A product may have an appealing idea, but its overall success can also depend on its timing, competitive advantages, intended audience, and ability to provide recognizable value.

Product Timing Stands Out

Among the four marketing concepts examined, product timing ranked as the most important to participants. Differentiation ranked the lowest.

The findings suggest that even an innovative product may struggle if consumers believe it is entering the market too early, too late, or at a time when demand is limited. Entrepreneurs must therefore consider not only what they are selling, but also whether the market is ready for it.

The research also identified differences in how male and female participants evaluated new products. These results may create opportunities for additional studies examining the role gender plays in consumer choices and potential funding decisions.

Practical Lessons for Entrepreneurs

Although the project is an academic study, its findings provide practical information for entrepreneurs, product developers, brand strategists, and marketing professionals.

Business owners preparing to introduce a new product should be able to answer several important questions:

• What problem does the product solve?
• Why should customers choose it over competing options?
• Is this the right time to introduce it?
• Who is most likely to purchase it?
• Does the complete business concept make sense to consumers and investors?

Addressing these questions as part of a unified marketing strategy may help entrepreneurs present stronger products and make more persuasive pitches.

Expanding the Conversation About Consumer Behavior

Through this research, Dr. Miles and his colleagues demonstrate how a popular television program can be used to examine serious questions about marketing, entrepreneurship, and consumer decision-making.

The project also highlights Dr. Miles’ continued involvement in business research, higher education, and the development of resources that connect academic ideas with real-world situations.

By studying how consumers respond to the products featured on Shark Tank, the researchers have produced findings that can benefit both the academic community and entrepreneurs preparing to bring their next idea to the marketplace.