Customer Choice Analysis is the discipline of assessing and analyzing the various choices customers make whilst learning about, selecting and using a company's products or services.
With a good choice model a company can learn where it is doing well or not-so-well in gaining and retaining profitable customers. It can also be used to predict how customers might react to new products, promotions or competitive moves.
For instance, you might want to know what the effect of expanding or contracting the number of offerings in your product line, or to decide whether to spend marketing dollars on education or on discounts. You might want to know how important a particular feature or function of a product is in the buying decision.
There are many techniques involved in choice analysis, and we are experts in designing the right approach for your specific problem. Specific methods we use include:
- Choice mapping
- Decision Tree analysis
- Conjoint studies
- Discrete Choice methods
