Latent Class Models for Conjoint Analysis

Venkatram Ramaswamy and Steven H. Cohen
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Venkatram Ramaswamy: University of Michigan Business School
Steven H. Cohen: Stratford Associates Marketing Research

Chapter 15 in Conjoint Measurement, 2007, pp 295-319 from Springer

Abstract: Abstract Conjoint analysis was introduced to market researchers in the early 1970s as a means to understand the importance of product and service attributes and price as predictors of consumer preference (e.g., Green and Rao 1971; Green and Wind 1973). Since then it has received considerable attention in academic research (see Green and Srinivasan 1978, 1990 for exhaustive reviews; and Louviere 1994 for a review of the behavioral foundations of conjoint analysis). By systematically manipulating the product or service descriptions shown to a respondent with an experimental design, conjoint analysis allows decision-makers to understand consumer preferences in an enormous range of potential market situations (see Cattin and Wittink 1982; Wittink and Cattin 1989; and Wittink, Vriens, and Burhenne 1994 for surveys of industry usage of conjoint analysis).

Keywords: Latent Class; Market Research; Conjoint Analysis; Latent Class Model; Market Segmentation (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1007/978-3-540-71404-0_15

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