|
May Luncheon
Location: Virtual (Zoom) | Chicago, Illinois
Date: Thursday, May 15, 2025 12:00 PM (Central Standard Time)
Luncheon Abstract:
Choice-based conjoint (CBC) experiments are widely used to understand consumer preferences and willingness to pay for different product features. One important consideration in designing CBC experiments is the balance of attribute levels across the design. Implementing this strategy seeks to give every level an equal chance to influence the respondent’s decision in the conjoint design.
But does that strategy work in every case?
In this lunch & learn, we'll revisit the work of Huber and Zwerina (1996) to determine if utility-balanced designs, a design strategy that trades off on level balance while optimizing which alternatives are paired against each other within tasks, could result in better predictions at the individual level.
Spoiler Alert - We'll show that utility-balanced designs perform well in predicting data from both utility-balanced and non-utility-balanced designs (using real respondents!) and that those respondents do not seem to be fatigued by utility-balanced designs. This would suggest that utility-balanced designs could be a successful strategy depending on the attributes and levels being tested!
Luncheon Speaker:
Megan Peitz | Founder and CEO | Numerious Inc.
A self-proclaimed nerd with her master’s in mathematics and statistics, Megan Peitz has over 15 years of marketing research experience, helping some of the world's largest companies fine-tune their products and services using math. Notable clients include Google, Meta, Nike, Lululemon, JP Morgan, Robinhood, PlayStation, and many others.
Megan has a passion for teaching and is a consistent guest speaker at the University of Michigan (UofM) Ross School of Business, University of California Los Angeles (UCLA) Anderson School of Management and University of Virginia (UVA) Darden School of Business.
Agenda:
12:00pm -1:00pm Presentation and Q&A
Registration Fees:
Includes access to the Zoom meeting
· Members - $10
· Non-Members - $15
· Students - $5
|