The valid prediction of consumer behavior is one of the biggest challenges of market research. The focus of preference measurement is to develop models and experiments that provides precise and comprehensive information based on a few observations. The most used preference measurement approach is Louviere and Woodworth's Choice-Based Conjoint Analysis. In addition to optimizing product design, pricing is an important area of application of this methodology. However, this method has the disadvantage that it overestimates the willingness to pay of the consumer. Thus, the determination of a possible higher willingness to pay and the related optimal pricing are prevented. The aim of this work is to integrate the individual price adaption according to Erichson, the adaptive TESI pricing model, into the survey of the Choice-Based Conjoint Analysis and to develop a new method of preference measurement, the Price-Adapted Choice-Based Conjoint Analysis. Within two investigations, both models, the classic Choice-Based Conjoint Analysis and the new developed model, are used and reviewed. They are examined to see which model estimates the individual willingness to pay more accurately and predicts the consumer behavior more valid.
|School:||Universitaet Bayreuth (Germany)|
|Source:||DAI-C 81/1(E), Dissertation Abstracts International|
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