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Enhance Conjoint with a Behavioral Framework

Conference
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The paper presents a behavioral framework which improve choice models with 9 simple questions. The recall of past shopping experiences has a relevant impact on the results on the following choice exercise. Hit-Rates and out-of-sample predictions could be significantly improved using this framework. The results of 9 empirical studies illustrate the improvement and give a guideline how to work with the additional questions. The paper describes the usefulness of the answers for three different purposes: recall of past shopping situations; use as co-variates in CBC/HB estimation and consumer segmentation.

Peter Kurz
bms Marketing Research & Strategy
Stefan Binner
bms Marketing Research & Strategy
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