Choice Modeling is a term applied to a broach range of data gathering and analytical techniques designed to
understand the trade-offs that customers make when selecting and acquiring products and services. Boston Research
Group uses a range of tools and procedures including experimental design, Conjoint, and Self-Explication to provide
our clients with an in-depth understanding of customer choices and decision-making. Typically, the methodology is
determined based on the number of trade-offs that need to be understood and the types of reporting and modeling that
is most helpful for the client. Boston Research Group has conducted many choice-modeling studies over the web. This
is a very effective use of Web-intercept; that is, interviewing random customers who have come to a website to shop
for a product.
Types of Information
Choice modeling can be used to:
Understand trade-offs between features and price.
Develop "what if" models to determine if demand (or competitive share) changes as features and prices change.
Develop a better understanding of the target market by describing those customers reporting high interest in
your product or service.
Market Segmentation by isolating and describing customers based on attribute trade-offs.