Choice-Based Conjoint Analysis

Felix Eggers (), Henrik Sattler (), Thorsten Teichert () and Franziska Völckner ()
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Felix Eggers: University of Groningen
Henrik Sattler: University of Hamburg
Thorsten Teichert: University of Hamburg
Franziska Völckner: University of Cologne

A chapter in Handbook of Market Research, 2022, pp 781-819 from Springer

Abstract: Abstract Conjoint analysis is one of the most popular methods to measure preferences of individuals or groups. It determines, for instance, the degree how much consumers like or value specific products, which then leads to a purchase decision. In particular, the method discovers the utilities that (product) attributes add to the overall utility of a product (or stimuli). Conjoint analysis has emerged from the traditional rating- or ranking-based method in marketing to a general experimental method to study individual’s discrete choice behavior with the choice-based conjoint variant. It is therefore not limited to classical applications in marketing, such as new product development, pricing, branding, or market simulations, but can be applied to study research questions from related disciplines, for instance, how marketing managers choose their ad campaign, how managers select internationalization options, why consumers engage in or react to social media, etc. This chapter describes comprehensively the “state-of-the-art” of conjoint analysis and choice-based conjoint experiments and related estimation procedures.

Keywords: Preference measurement; Choice experiments; Conjoint analysis; Conjoint measurement; Tradeoff analysis; Choice-based conjoint; Adaptive conjoint; Utility function; New product development; Revealed preference; Incentive-aligned mechanisms; Willingness-to-pay; Market simulation (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/978-3-319-57413-4_23

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