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| Author: | Eggers, F. Sattler, H. |
| Title: | Hybrid individualized two-level choice-based conjoint (HIT-CBC): A new method for measuring preference structures with many attribute levels |
| Journal: | International Journal of Research in Marketing
2009 : JUN, VOL. 26:2, p. 108-118 |
| Index terms: | marketing research measurement methodology conjoint analysis pricing |
| Freeterms: | heterogeneity |
| Language: | eng |
| Abstract: | This paper introduces hybrid individualized two-level choice-based conjoint (HIT-CBC) combining self-explicated preference measurement (SE) with choice-based conjoint analysis (CBC). While existing conjoint measurement approaches suffer from the number-of-levels effect, HIT-CBC avoids this problem due to the reduction of every attribute to two levels. Thus, HIT-CBC is appropriate for problems with many and imbalanced attribute levels. Moreover, the transformation to the best and worst levels exemplifies a new and favourable way to account for consumer heterogeneity. In addition, HIT-CBC introduces the possibility of using individualized willingness-to-pay (WTP) measures as price levels. A simulation and an empirical study show the robust predictive validity of HIT-CBC compared with a standard CBC approach, illustrating the advantages of HIT-CBC with a pricing study. |
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