Using Extremes to Design Products and Segment Markets
1995 ◽
Vol 32
(4)
◽
pp. 392-403
◽
Keyword(s):
Current marketing methodologies used to study consumers are inadequate for identifying and understanding respondents whose preferences for a product offering are most extreme. These “extreme respondents” have important implications for product design and market segmentation decisions. The authors develop a hierarchical Bayes random-effects model and apply it to a conjoint study of credit card attributes. Their proposed model facilitates an in-depth study of respondent heterogeneity, especially of extreme respondents. The authors demonstrate the importance of characterizing extremes in identifying product attributes and predicting the success of potential products.
2017 ◽
Vol 69
(2)
◽
pp. 150-164
◽
Keyword(s):
2020 ◽
Vol 29
(11)
◽
pp. 3308-3325
Keyword(s):
2019 ◽
Vol 38
(2)
◽
pp. 185-218
2014 ◽
Vol 43
(10)
◽
pp. 2374-2389