Insider Series Webinar

Optimization with Choice Modeling
presented by Jerry W. Thomas and Elizabeth Horn, Ph.D.
 
 
Why Choice Modeling?

Consumers can tell us what they will buy and what they will not buy. But rarely can they tell us what roles price, brand image, package color, brand name, promotional offers, and media advertising play in their purchase decisions. With choice modeling experiments, however, we can implicitly measure the influence of these marketing variables.

Consumers must make brand “choices” when they make purchases. Choice modeling simulates their shopping and decision-making process, with all of the important variables carefully controlled by rigorous experimental design, so that the role and importance of each marketing input can be determined.

“Choice modeling” refers to a family of statistical optimization techniques. Common applications are:

  • Pricing Optimization
  • Product Design Optimization
  • Product-Line Planning
  • Market Segmentation
  • Brand Strategy Optimization
  • Package Design Optimization
  • Advertising Optimization
  • New Product Concept Optimization
  • Promotion Offer Optimization
 

Contact Decision Analyst

If you would like a pdf copy of the presentation please contact Jerry W. Thomas, President/CEO, he can be emailed at jthomas@decisionanalyst.com or Beth Horn, Senior Vice President of Marketing Science, she can be emailed at ehorn@decisionanalyst.com. Both presenters may be reached at 1-800-262-5974 or 1-817-640-6166.