Introduction
People constantly
make choices, especially in the markets where they buy and sell.
These market choices are extensive and varied and include decisions
such as what brand to buy, what flavor yogurt to eat, what school
to attend, what product to sell, what price to charge, and so forth.
Market researchers are asked to analyze these market choices, which
they do using a variety of methodologies that form a family as shown
in the tree-like structure in Figure 6.1 Choice Model Family.
Figure 6.1 Choice Model Family
At the top of the tree are three major modeling methodologies: Conjoint, Discrete
Choice, and MaxDiff. These are used ...
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