Dealing with Product Similarity in Conjoint Simulations

Joel Huber, Bryan Orme and Richard Miller
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Joel Huber: University of Mainz, Germany
Bryan Orme: Sawtooth Software, Inc.

Chapter 17 in Conjoint Measurement, 2007, pp 347-362 from Springer

Abstract: Abstract One of the reasons conjoint analysis has been so popular as a management decision tool has been the availability of a choice simulator. These simulators often arrive in the form of a software or spreadsheet program accompanying the output of a conjoint study. These simulators enable managers to perform ‘what if’ questions about their market - estimating market shares under various assumptions about competition and their own offerings. As examples, simulators can predict the market share of a new offering; they can estimate the direct and cross elasticity of price changes within a market, or they can form the logical guide to strategic simulations that anticipate short- and long-term competitive responses (Green and Krieger 1988).

Keywords: Latent Class; Threshold Model; Choice Rule; Aggregate Model; Linear Probability Model (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1007/978-3-540-71404-0_17

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