Burke Institute Seminars
The Burke Institute presents
 

Practical Conjoint Analysis And Discrete Choice Modeling On-Site Training

This on-site training class is also available as Public Schedule Seminar.

This 3-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.

Course Description/Agenda


What You Will Learn
  • What conjoint analysis and discrete choice modeling do, how to use them, when to use them and what are their marketing applications.
  • How to select attributes and levels; how to determine the most appropriate type of analysis: adaptive, full profile, or choice based conjoint; how to collect data; and the number of profiles each respondent should evaluate.
  • What are utilities, how they are estimated, and how to use them in further analysis.
  • How to design an effective conjoint analysis study using ACA and CBC from Sawtooth Software.
  • How to interpret simulation results and translate them into actionable information.
  • Latest developments in individual level discrete choice analysis techniques such as Hierarchical Bayes, Latent Class or Mixture Modeling.
  • Alternate techniques for pricing research.
Course Outline and Schedule

----- First Day -----
08:30 AM - 08:45 AM Introduction of Participants
08:45 AM - 10:30 AM Session I
INTRODUCTION TO CONJOINT ANALYSIS AND BASIC CONCEPTS: What is conjoint analysis? Basic terms and concepts. Historical introduction to conjoint analysis. Selecting attributes and levels. Simple approaches to measuring preference structure.
10:30 AM - 10:45 AM Coffee Break
10:45 AM - 12:30 PM Session II
FULL PROFILE CONJOINT ANALYSIS: Issues in designing full profile conjoint studies; experimental design basics. Collection of full profile conjoint data. Comparison to related techniques. Analysis of conjoint data; computation of conjoint utilities and importance scores. Simulations using full profile conjoint data.
12:30 PM - 01:45 PM Lunch Break
01:45 PM - 03:15 PM Session III
PRACTICAL ISSUES IN CONJOINT ANALYSIS: Case studies utilizing full profile conjoint analysis. Examples of different methods of presenting conjoint results. Interpretation of results. Techniques for dealing with large conjoint designs; blocking, bridging, partial profile, hybrid and adaptive approaches.
03:15 PM - 03:30 PM Coffee Break
03:30 PM - 05:00 PM Session IV
PRACTICUM PART I: DESIGN OF CONJOINT STUDY. Group exercise in designing and implementing a conjoint interview. Demonstration of Sawtooth “ACA” adaptive conjoint software. Respondent’s perspective on completing a conjoint interview.

----- Second Day -----
08:30 AM - 10:15 AM Session V
PRACTICUM PART II: ANALYSIS OF CONJOINT STUDY. Group exercise in analyzing actual conjoint data. Performing different types of simulations. Demonstration of Sawtooth “ACA” analysis and simulation software. Drawing conclusions and recommendations from conjoint studies.
10:15 AM - 10:30 AM Coffee Break
10:30 AM - 12:30 PM Session VI
UNDERSTANDING DISCRETE CHOICE MODELING (DCM): How is discrete choice different from conjoint? Why use discrete choice modeling? How is DCM performed? Experimental design options. Data analysis and simulations.
12:30 PM - 01:45 PM Lunch Break
01:45 PM - 03:15 PM Session VII
MAKING MODELS BETTER: ADVANCED CONJOINT AND DISCRETE CHOICE MODELING ISSUES. Aggregate vs. disaggregate models. Methods of producing individual models: Value of individual models. IIA issues and solutions. Leveraging ordered attributes. Utility level reversals.
03:15 PM - 03:30 PM Coffee Break
03:30 PM - 05:00 PM Session VIII
INNOVATIONS AND VARIATIONS OF CONJOINT AND DCM: Case studies and examples of different applications. MaxDiff technique. Configurators. Practical issues: statistical testing of conjoint results, sample size considerations. Optional Workshop: Building Conjoint and DCM Simulators in Excel.


----- Third Day -----
08:30 AM - 10:15 AM Session IX
PRICING RESEARCH WITH CONJOINT METHODS: Introduction to pricing philosophy and demand oriented pricing. Elasticity calculations. Using conjoint and DCM simulations to address pricing objectives. Psychological issues in pricing and pricing research. Dangers related to conjoint techniques for pricing research.
10:15 AM - 10:30 AM Coffee Break
10:30 AM - 12:30 PM Session X
ALTERNATE TECHNIQUES FOR PRICING RESEARCH: Monadic cell testing; Brand-Price Trade-Off (BPTO); Price Sensitivity Measurement. Comparison of techniques.
12:30 PM - 12:45 PM Concluding Remarks

What Past Participants Have Said About This Seminar

Verbatim evaluations from participants who have attended the "Practical Conjoint Analysis And Discrete Choice Modeling" seminar.
Names of evaluators have been left out as a matter of professional courtesy.

"Excellent seminar — very well organized and structured — covered all the important aspects of the topic."
Executive Vice President, Creative Consumer Research
"There was an incredible amount of material covered over the two days, but the seminar was well organized and the manual that was handed-out was extremely useful. Overall I was very satisfied with the course."
Analyst Customer Research, Canadian Airlines
"Exactly what was needed. There hasn’t been anything available relative to conjoint up to this point… It covered the software I presently use plus others that I may be interest in checking out in the future."
Market Research Manager, Graco Children

 

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