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Using Choice Modeling to Supercharge Your Business The essential non-technical guide to choice modeling, its benefits and applications (Practical Books for Smart Marketers from Pmp)

Using Choice Modeling to Supercharge Your Business The essential non-technical guide to choice modeling, its benefits and applications (Practical Books for Smart Marketers from Pmp)

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Choice modeling is one of the most sophisticated market research techniques, but many companies don't use it because it seems too complicated and expensive. However, in many cases, the benefits outweigh the costs and the right vendor can make the process ransparent. It's more predictive, actionable, and directly relevant to decisions that will increase return on investment. In Using Choice Modeling to Supercharge Your Business Chris Diener, senior vice president for research methods at Lieberman Reseach Worldwide, explains choice modeling in lay terms and uses many examples of help marketers understand the benefits of the technique. Diener stresses that choice modeling more closely represents the actual decisions that customers make when they are onsidering purchases. especially of big-ticket items. The technique is complicated because there are scores of different combinations that can be considered and it takes a certain amount of expertise to model these different combinations once survey dta have been collected. Diener's step-by-step analysis of the process helps uninitiated marketers decide whether a choice modeling project will work in their situations, help managers explain it to their colleagues, and help marketing executives unloc the potential of their market research investment.