Delaware Chapter, ASA
Dinner Meeting: December 2006
|| Our meetings are located at the Blue and Gold Club Tavern
on the University of Delaware campus.
Dr. Jennifer L. Golek|
DuPont Engineering Technology
Design Strategies for Marketing Experiments (Conjoint Anlaysis)
Marketing managers are faced with numerous activities to assess future
profitability, sales, market share for new products, changes to
existing products and marketing strategies. Valuable information for
these efforts can often be obtained by reviewing databases of
historical information, but often there are problems with the answers
realized from these sources due to confounding, lack of variation, etc.
Conjoint analysis allows us to use hypothetical experimentation with
consumers to answer the questions that historical data cannot.
We begin by providing a review of the history and development of the
field of stated preference experiments (conjoint analysis). Several
examples from the marketing literature will be reviewed to illustrate
the potential complexity associated with conjoint experiments. The use
of different strategies for the construction of optimal choice
experiments and their impact on the overall efficiency of the resulting
design are explored. We then evaluate how these choice designs meet the
desired characteristics of optimal choice designs (orthogonality, level
balance, utility balance and minimum level overlap). We further study
the impact of misspecification of the assumed parameter values used in
creation of optimal choice designs, and find that the impact of
misspecification varies widely based on the discrepancy between the
true and assumed parameter values.
Current design and analysis strategies for stated preference
experiments assume that compensatory decisions are made. We consider
how different decision strategies may be represented through
manipulating the assumed parameter values used in creating the choice
design. In this context, the consequences of misspecification of the
decision strategy are also evaluated. We conclude by suggesting a
comprehensive strategy that should be followed in the creation of
Return to Delaware Chapter ASA home page.
||Thursday, December 21, 2006|
||Social hour -- 6:00 pm|
Dinner -- 6:30 pm
Speaker -- 7:15 pm
||Blue and Gold Club Tavern|
University of Delaware
|| $25 for members, $15 for students
|Bruce Stanley by Wednesday,
December 20, 2006.|
Please note: Be sure to RSVP by this date.