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Dealing with Product Similarity in Conjoint Simulations

In: Conjoint Measurement

Author

Listed:
  • Joel Huber

    (University of Mainz, Germany)

  • Bryan Orme

    (Sawtooth Software, Inc.)

  • Richard Miller

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).

Suggested Citation

  • Joel Huber & Bryan Orme & Richard Miller, 2007. "Dealing with Product Similarity in Conjoint Simulations," Springer Books, in: Anders Gustafsson & Andreas Herrmann & Frank Huber (ed.), Conjoint Measurement, edition 0, chapter 17, pages 347-362, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-71404-0_17
    DOI: 10.1007/978-3-540-71404-0_17
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    Citations

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    Cited by:

    1. Charles Cunningham & Ken Deal & Yvonne Chen, 2010. "Adaptive Choice-Based Conjoint Analysis," The Patient: Patient-Centered Outcomes Research, Springer;International Academy of Health Preference Research, vol. 3(4), pages 257-273, December.
    2. Agnieszka D. Hunka & Marcus Linder & Shiva Habibi, 2021. "Determinants of consumer demand for circular economy products. A case for reuse and remanufacturing for sustainable development," Business Strategy and the Environment, Wiley Blackwell, vol. 30(1), pages 535-550, January.
    3. Schuldt, Johannes & Doktor, Anna & Lichters, Marcel & Vogt, Bodo & Robra, Bernt-Peter, 2017. "Insurees’ preferences in hospital choice—A population-based study," Health Policy, Elsevier, vol. 121(10), pages 1040-1046.
    4. Patricia M. Herman & Maia Ingram & Charles E. Cunningham & Heather Rimas & Lucy Murrieta & Kenneth Schachter & Jill Guernsey Zapien & Scott C. Carvajal, 2016. "A Comparison of Methods for Capturing Patient Preferences for Delivery of Mental Health Services to Low-Income Hispanics Engaged in Primary Care," The Patient: Patient-Centered Outcomes Research, Springer;International Academy of Health Preference Research, vol. 9(4), pages 293-301, August.
    5. Charles Cunningham & Ken Deal & Heather Rimas & Heather Campbell & Ann Russell & Jennifer Henderson & Anne Matheson & Blake Melnick, 2008. "Using Conjoint Analysis to Model the Preferences of Different Patient Segments for Attributes of Patient-Centered Care," The Patient: Patient-Centered Outcomes Research, Springer;International Academy of Health Preference Research, vol. 1(4), pages 317-330, October.
    6. Hein, Maren & Goeken, Nils & Kurz, Peter & Steiner, Winfried J., 2022. "Using Hierarchical Bayes draws for improving shares of choice predictions in conjoint simulations: A study based on conjoint choice data," European Journal of Operational Research, Elsevier, vol. 297(2), pages 630-651.
    7. Charles Cunningham & Linda Kostrzewa & Heather Rimas & Yvonne Chen & Ken Deal & Susan Blatz & Alida Bowman & Don Buchanan & Randy Calvert & Barbara Jennings, 2013. "Modeling Organizational Justice Improvements in a Pediatric Health Service," The Patient: Patient-Centered Outcomes Research, Springer;International Academy of Health Preference Research, vol. 6(1), pages 45-59, March.
    8. Schön, Cornelia, 2010. "On the product line selection problem under attraction choice models of consumer behavior," European Journal of Operational Research, Elsevier, vol. 206(1), pages 260-264, October.
    9. Robert Dunlea & Leslie Lenert, 2015. "Understanding Patients’ Preferences for Referrals to Specialists for an Asymptomatic Condition," Medical Decision Making, , vol. 35(6), pages 691-702, August.

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