Conjoint Analysis and Choice Modeling

What is the relative value between attributes in the consumer purchase decision? What is the effect of price differences between competitors on market share? Choice-modeling (e.g., Conjoint, Discrete Choice) requires consumers to prioritize attributes / benefits and varying performance levels through simulating the decision making process between one product offering and another. This technique can be used to optimize product design and bundling of service offerings. It can also be used to optimize brand pricing through understanding consumer sensitivity to price differences in choosing which brand’s product to purchase.

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