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| Author: | Sichtmann, C. Wilken, R. Diamantopoulos, A. |
| Title: | Estimating willingness-to-pay with choice-based conjoint analysis - can consumer characteristics explain variations in accuracy? |
| Journal: | British Journal of Management
2011 : DEC, VOL. 22:4 p. 628-645 |
| Index terms: | conjoint analysis consumer expenditure consumer behaviour pricing marketing strategy consumer choice |
| Language: | eng |
| Abstract: | The precision of choice-based conjoint analysis (CBCA) is evaluated in the context of willingness to pay (WTP) measurement at the individual level. In addition, it is analysed whether variations in the accuracy of WTP estimates derived by CBCA can be declared by consumers' involvement, brand awareness and the strength of consumer preferences. The findings indicate that CBCA does not presume accurate WTP estimates and, on average, largely overestimates the true WTP of consumers. |
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