What if? If you need an answer to this question, consider AppliedChoice™.
AppliedChoice™ builds upon traditional choice based conjoint designs but adds an “adaptive” component. Survey respondents are asked to make product bundle choices and the model “adapts” to the choices they make.
AppliedChoice™ allows us to focus on product items that are truly important to the respondent, rather than focusing equal attention on product items for which they have little preference.
AppliedChoice™ allows for much more realistic choice comparison and can provide crucial insights to these considerations.
AppliedChoice™ surveys are more engaging, relevant interviews. They provide the ability to obtain strong individual-level estimates and we can work even with the smallest of sample sizes. It is based on solid behavioral theory (consideration, then choice) and statistical theory.
AppliedChoice™ can be “applied” in a variety of settings, including:
- Product Design or Composition Package Design (Elements)
- Message Testing (Composite Phrases, Keywords)
- Pricing Analysis (Price sensitivity, elasticity)
- Assessment of Market Demand
From AppliedChoice™ analyses, we can also derive “what if” scenarios with market simulators. Researchers can adjust prices and evaluate the possible impact on potential demand. Researchers can also adjust product components to assess the “ideal” price to charge for their products or competitor products.
Discover what an AppliedChoice™ model can do for your company. Call us at 1.800.381.5599 for a free consultation.