The ability of ratings and choice conjoint to predict market shares: a Monte Carlo simulation

Chakraborty, Goutam; Ball, Dwayne; Gaeth, Gary J.; Jun, Sunkyu

doi:10.1016/s0148-2963(00)00127-2

Cited by 35 publications

(15 citation statements)

References 16 publications

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“…By means of a choice-based conjoint analysis, a variety of stimuli was presented -each comprising different nutritive values within the traffic light signposting scheme. A conjoint method was chosen to assess the relative impact of single product attributes as this has proved to be an adequate tool for preference and utility measurement (42,43) . Choice-based conjoint analyses are advantageous compared with classical rating-based approaches as choice tasks are more comparable to reallife buying decisions, thus leading to a higher external validity (44) .…”

Section: Methodsmentioning

confidence: 99%

Colour Me In – an empirical study on consumer responses to the traffic light signposting system in nutrition labelling

Hieke¹,

Wilczynski²

2011

Public Health Nutr.

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Objective: As a means of empowering consumers, nutrition labelling has become a widely discussed topic. Simplicity and uniformity of labelling systems are regarded as the prevailing demands from the consumer side. In the present study, we analyse the effects of the traffic light signposting scheme on consumers' food choices. Design: In an online survey, respondents first rated the understandability of the traffic light signposting scheme. In a following conjoint experiment, they indicated which products they would select as the healthiest of the presented products, based on the nutritive information provided by the traffic light signposting scheme. Setting: A major German university. Subjects: In total 2002 undergraduate students participated in the survey. Two-thirds (69 %) of the respondents were female and the majority of the respondents (70 %) were between 18 and 24 years old. Seventy-seven per cent of the participants indicated that they had a higher level of education. Results: Overall, the participants rated the understandability of the traffic light nutrition signposting scheme fairly high (5?9 out of 7). Sugar and fat were found to be the most important attributes of the scheme. Participants placed greater emphases on a change in a product's nutrient characteristic from 'amber to 'red' compared with a change from 'green' to 'amber'. Conclusions: Our results confirm the signalling effect of colour coding as it helps reduce the complexity of decision making. Our findings shed new light on the ongoing discussion concerning appropriate and efficient nutrition labelling and provide interesting insights for further research as well as implications for public policy making.

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Section: Methodsmentioning

confidence: 99%

Colour Me In – an empirical study on consumer responses to the traffic light signposting system in nutrition labelling

Hieke¹,

Wilczynski²

2011

Public Health Nutr.

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“…The first reference to this method was made in Luce and Tukey (1964), followed by Wilkie and Pessemier (1973), who talked about using multi-attribute models to analyze and understand consumer preferences (Varela and Braña, 1996;Picón et al, 2006;Ramírez, 2008). Additionally, researchers' interest in this methodology has been growing in recent years, both in academia and business (Chakraborty et al, 2002;Chen et al, 2010;Feltrinelli and Molteni, 2004;Gates et al, 2000;Hatzinger and Mazanec, 2007;Keen et al, 2002;Klenosky et al, 2001;Montes et al, 2008;Picón et al, 2006;Ramirez, 2008;Sethuraman et al, 2005;Vag, 2007). Multi-attribute models explain the manner in which consumers form their preferences.…”

Section: Conjoint Analysismentioning

confidence: 99%

Minimizing the risks of innovation in bottled water design: An application of conjoint analysis and focus group

Sérgio Dominique-Ferreira,

2012

Afr. J. Bus. Manage.

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The rapid development of current markets justifies brands' need to constantly and innovatively modify their products in order to meet the needs and preferences of increasingly demanding consumers. Advertising companies' main objective for attaining leadership in their respective areas is to adjust these changes to suit consumers' preferences and necessities. In this context, a well-known company that deals in bottled water considered modifying some elements of its current containers. To minimize risk, a hall test was carried out on 100 consumers, in which the task of ascertaining consumer preferences using real stimuli and subsequent application of the conjoint algorithm on the data (quantitative research) was combined with personal interviews with consumers (qualitative research). The integration of quantitative and qualitative derived data was useful to show that the intuition of the people responsible for the brand or the creative aspect of advertising is not always accurate and can be completely different from the preferences of the final consumers.

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“…This makes the choice experiment more realistic. It gives a better predicted accuracy, especially in market simulations [11,12]. Hence, CBC is the conjoint technique applied in this experiment.…”

Section: Choice-based Conjoint Theorymentioning

confidence: 99%

A choice-based conjoint analysis on the market potential of PHEVs and BEVs in Flanders

Lebeau

Mierlo

Lebeau

et al. 2012

WEVJ

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In this paper, the market potential for electric vehicles (EVs) in Flanders (Belgium) is forecasted with the use of a choice-based conjoint (CBC) analysis. In May 2011, a large-scale survey was conducted (n = 1.197). The goal of the survey was twofold: estimate the market potential for (plug-in hybrid) electric vehicles in Flanders (Belgium) and formulate recommendations for the further deployment of electric vehicles within the region of Flanders. When looking at the forecasts based on the CBC experiment, in 2020, battery electric vehicles (BEVs) could reach a market share of around 5% of the newly sold vehicles in Flanders. Plug-in hybrid electric vehicles (PHEVs) could have a market share of around 7%. In 2030, these figures could increase to respectively 15% and 29%. A sensitivity analysis reveals that, in order to increase the potential for (PH)EVs, the main focus should be on decreasing the purchase costs.

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The ability of ratings and choice conjoint to predict market shares: a Monte Carlo simulation

Cited by 35 publications

References 16 publications

Colour Me In – an empirical study on consumer responses to the traffic light signposting system in nutrition labelling

Colour Me In – an empirical study on consumer responses to the traffic light signposting system in nutrition labelling

Minimizing the risks of innovation in bottled water design: An application of conjoint analysis and focus group

A choice-based conjoint analysis on the market potential of PHEVs and BEVs in Flanders

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