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Practical Conjoint Analysis and Discrete Choice Modeling  

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Seminar Summary:

This 2.5-day comprehensive seminar is designed to help marketing research practitioners obtain a complete understanding of conjoint analysis and discrete choice modeling, starting with the design process through utility estimation to translating results into actionable information. (see full course description)

 

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Training Course Syllabus:


PRACTICAL CONJOINT ANALYSIS & DISCRETE CHOICE MODELING

Day 1
8:30 am – 5:00 pm

Introduction

Session 1 – Introduction to Conjoint Analysis and Basic Concepts:
• What is conjoint analysis?
• Basic terms and concepts
• Range of applications of conjoint
• Major approaches to conjoint analysis

Session 2 – Planning, Designing and Conducting Conjoint Projects:
• Selecting attributes and levels
• Experimental and survey design issues
• Comparison of ratings-based and choice-based conjoint models
• Selecting the best type of model

Lunch

Session 3 – Analysis of Conjoint Data:
• Conjoint utilities and importance scores
• Utilizing regression and other statistical models with conjoint data
• Types of conjoint simulation
• Interpreting the results of conjoint studies
• Converting conjoint results into shares and other useful metrics

Session 4 – Conjoint Case Studies:
• Case studies of ratings-based conjoint and discrete choice model
• Presenting conjoint results
• Analyzing conjoint data with SPSS, using live case study data


Day 2
8:30 am – 5:00 pm

Session 5 – Practicum Part One: Design of Conjoint Study:
• Group exercise in designing and implementing a conjoint interview
• Respondent’s perspective on completing a conjoint interview

Session 6 – Practicum Part Two: Analysis of Conjoint Study:
• Group exercise in analyzing conjoint data
• Performing conjoint simulations

Lunch

Session 7 – The Art of Model Building (Understanding and Overcoming the Limitations of Conjoint Models):
• Calibrating conjoint models to match real world results
• Using conjoint results for forecasting
• Diffusion curves and analogs
• Understanding and modeling interactions in conjoint projects
• Aggregate vs. disaggregate models
• Hierarchical Bayes and Latent Class models
• Value of individual models
• Leveraging ordered attributes
• Utility level reversals

Session 8 – Alternative Approaches to Conjoint Analysis:
• Self-explicated and hybrid conjoint models
• Adaptive models
• Build-Your-Own and configurators
• Model-Free conjoint. Model-building tricks
• Bundling and positioning applications
• MaxDiff scaling
• Optional Workshop: Building Conjoint and DCM Simulators in Excel


Day 3
8:30 am – 12:30 pm

Session 9 – Special Challenges Using Conjoint Methods for Pricing Research:
• The art of setting prices
• Psychological issues in pricing and pricing research
• Monadic and repeated-exposure designs
• Special approaches for pricing: two-variable discrete choice, feature-level pricing, price sensitivity meter, and brand-price trade-off

Session 10 – Closing Thoughts:
• Applying, communicating, and getting the most out of conjoint through the organization
• Statistical testing of conjoint results
• Setting expectations for conjoint projects
• Dealing with clients and vendors
 

Seminar Summary:

This 2.5-day comprehensive seminar is designed to help marketing research practitioners obtain a complete understanding of conjoint analysis and discrete choice modeling, starting with the design process through utility estimation to translating results into actionable information. (see full course description)

print this agenda print agenda for the Practical Conjoint Analysis and Discrete Choice Modeling training seminar

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