Practical Conjoint Analysis & Discrete Choice Modeling (DA04)
Seminar by
Burke Institute
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Details
This 2.5-day comprehensive seminar is designed to help marketing research practitioners obtain a complete understanding of conjoint analysis and discrete choice modeling, starting with the design process through utility estimation to translating results
into actionable information. You will learn:
- What conjoint analysis and discrete choice modeling do, how to use them, when to use them and what are their marketing applications.
- How to select attributes and levels; how to determine the most appropriate type of analysis: adaptive, full profile, or choice based conjoint; how to collect data; and the number of profiles each respondent should evaluate.
- What are utilities, how they are estimated, and how to use them in further analysis.
- How to design an effective conjoint analysis study using ACA and CBC from Sawtooth Software.
- How to interpret simulation results and translate them into actionable information.
- Latest developments in individual level discrete choice analysis techniques such as Hierarchical Bayes, Latent Class or Mixture Modeling.
- Alternate techniques for pricing research.
Outline
----- First Day -----
08:30 AM - 08:45 AM Introduction of Participants
08:45 AM - 10:30 AM Session 1
-
INTRODUCTION TO CONJOINT ANALYSIS AND BASIC CONCEPTS:
- What is conjoint analysis?
- Basic terms and concepts
- Range of applications of conjoint
- Major approaches to conjoint analysis
10:45 AM - 12:30 PM Session 2
-
PLANNING, DESIGNING AND CONDUCTING CONJOINT PROJECTS:
- Selecting attributes and levels
- Experimental and survey design issues
- Comparison of ratings-based and choice-based conjoint models
- Selecting the best type of model
01:45 PM - 03:15 PM Session 3
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ANALYSIS OF CONJOINT DATA:
- Conjoint utilities and importance scores
- Utilizing regression and other statistical models with conjoint data
- Types of conjoint simulation
- Interpreting the results of conjoint studies
- Converting conjoint results into shares and other useful metrics
03:15 PM - 03:30 PM Break
03:30 PM - 05:00 PM Session 4
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CONJOINT CASE STUDIES:
- Case studies of ratings-based conjoint and discrete choice model
- Presenting conjoint results
- Analyzing conjoint data with SPSS, using live case study data
----- Second Day -----
08:30 AM - 10:15 AM Session 5
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PRACTICUM PART ONE: DESIGN OF CONJOINT STUDY:
- Group exercise in designing and implementing a conjoint interview
- Respondent’s perspective on completing a conjoint interview
10:15 AM - 10:30 AM Break
10:30 AM - 12:30 PM Session 6
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PRACTICUM PART TWO: ANALYSIS OF CONJOINT STUDY:
- Group exercise in analyzing conjoint data
- Performing conjoint simulations
- Drawing conclusions and recommendations from conjoint studies
01:45 PM - 03:15 PM Session 7
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THE ART OF MODEL BUILDING: Understanding and Overcoming the Limitations of Conjoint Models
- Calibrating conjoint models to match real world results
- Using conjoint results for forecasting
- Diffusion curves and analogs
- Understanding and modeling interactions in conjoint projects
- Aggregate vs. disaggregate models
- Hierarchical Bayes and Latent Class models
- Value of individual models
- Leveraging ordered attributes
- Utility level reversals
03:30 PM - 05:00 PM Session 8
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ALTERNATIVE APPROACHES TO CONJOINT ANALYSIS:
- Self-explicated and hybrid conjoint models
- Adaptive models
- Build-Your-Own and configurators
- Model-Free conjoint. Model-building tricks
- Bundling and positioning applications
- MaxDiff scaling
- Optional Workshop: Building Conjoint and DCM Simulators in Excel
----- Third Day -----
08:30 AM - 10:15 AM Session 9
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SPECIAL CHALLENGES USING CONJOINT METHODS FOR PRICING RESEARCH
- The art of setting prices
- Psychological issues in pricing and pricing research
- Monadic and repeated-exposure designs
- Special approaches for pricing: two-variable discrete choice, feature-level pricing, price sensitivity meter, and brand-price trade-off
10:15 AM - 10:30 AM Break
10:30 AM - 12:30 PM Session 10
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CLOSING THOUGHTS
- Applying, communicating, and getting the most out of conjoint through the organization
- Statistical testing of conjoint results
- Setting expectations for conjoint projects
- Dealing with clients and vendors
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Since our founding in 1975, Burke Institute has trained more than 80,000 participants from 10,000 companies, in 40 different countries.
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When you attend our seminars, you participate in more than an exciting, on-target learning experience. You learn from what we have learned as the most experienced marketing research training organization in the world. We deliver:
Since our founding in 1975, Burke Institute has trained more than 80,000 participants from 10,000 companies, in 40 different countries.
SEVEN REASONS FOR SELECTING OUR SEMINARS
When you attend our seminars, you participate in more than an exciting, on-target learning experience. You learn from what we have learned as the most experienced marketing research training organization in the world. We deliver:
Breadth
You can choose from a wide range of seminar topics to meet your continuing educational needs. Participants can select a sequence of seminars which offer coordinated state-of-the-art training with increasing levels of sophistication and depth in the chosen area. This eliminates the duplication and conflicting content which often results from attending disjointed seminars from different sources.
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We are fully committed to making each seminar a memorable learning experience - before, during and after the seminar. Our staff provides highly personalized assistance in selecting the best programs (ours or others) for your needs. And our seminar leaders are available to you to answer technical questions long after the seminar has ended. ...
