The application of Conjoint Analysis integrated with response time on consumer preference estimation
Date Issued
2005
Date
2005
Author(s)
Hsieh, Wen-Wei
DOI
zh-TW
Abstract
The three core concepts of the contemporary marketing strategy－segmentation, targeting and positioning have been regarded the utmost principle to the marketing manager. Despite its accuracy and effectiveness, the complexity and heterogeneity of consumer behavior have challenging the STP strategy whether it can be put into practice or not. Accordingly, how to measure consumer’s preference accurately has become the most urgent problem to overcome.
This study takes advantage of the latest techniques – Adaptive Conjoint Analysis (ACA) for consumer preference measurment; it has been applied to replace the traditional method, paper-and-pencil query, to collect data. The most surprising strength of ACA is able to record the respondents’ response time in the conjoint analysis experiments. Although proposed theories with respect to response time have been existed for a period of time, it can only be seen as rather new application in the field of marketing. Thus we started from analyzing individual preference, understanding the potential source of instability of individual preference by combining the metric scale in estimating individual part-worth and response time underling consumer’s behavior.
Firstly, the analytical model of response time is constructed by lognormal model to estimate respondent’s filtered response time. Then we regress each respondent’s filtered response time at each order with the residual term generating from Hierarchical Bayesian Conjoint Analysis to obtain the time effect which refers to the part that can be explained by response time within the residual term. Following the time effect is regressed by three variables, conflict level, product familiarity and involvement in order to test the connection between them, drawing inference from the results to prove estimating individual part-worth.
This study investigates two extreme product, notebook and instant noodle, which purpose is to verify besides three independent variables in the experiment whether product nature has impacts on the relationship between specified independent variables and time effect.
Subjects
聯合分析法
反應時間
顧客偏好預測
conjoint analysis
response latency
SDGs
Type
thesis
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