Discrete Choice Modeling (Conjoint Research)

StatWorld has got a distinctive expertise in Discrete Choice Modeling (DCM), more commonly known as Conjoint Research. Having applied DCM in over 100 business problems, spanning across diverse sectors, our team is your go-to experts for this type of research. We have subject matter experts and team with global expertise on advanced analytical techniques. Our services include:

  • End-to-end execution of Conjoint projects including experimental design, survey programming, utilities estimation & market simulator
  • Experience of working on 100+ Conjoint studies using various conjoint techniques like CBC, ACBC, MBC, Max-Diff
  • Ability to build complex excel based “What-If” market simulators with features such as:
    •    Demand Curves (Relationship between price and preference share depicted through chart)
    •    Sensitivity Analysis (Change in preference shares by changes in different attributes depicted through chart)
    •    Scenario Comparison (Ability to compare multiple scenarios on the same screen)
    •    Monetary Value Attribution (Assigns $ value to individual level of each attribute that helps in identifying optimal pricing)
  • Have applied Conjoint research in various scenarios such as new product development, repositioning existing products, pricing strategies, market growth strategies, & market segmentation etc.
  • Have applied Conjoint research in diverse sectors such as Pharmaceutical, Real Estate, Hospitality, F&B, Automotive, Medical Devices, IT & Telecom, and Banking etc.

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Market Segmentation

Market segmentation is one of the most important basis of many successful marketing strategies. The identified segments allow tailoring the marketing mix to more individual customer needs, thus helps to invest marketing spending more effectively.

StatWorld has got a distinctive expertise when it comes to segmentation. Our team has extensive global experience in applying market segmentation, to develop marketing strategies aiming towards more efficient advertising, accurate branding, sales force effectiveness, customer retention and much more. Our services include:

  • End-to-end execution of Segmentation projects including questionnaire development, survey programming, data processing, segmentation, profiling & extrapolation of segments to universe
  • Conduct segmentation of various types such as psychographic, attitudinal, behavioral, need-based, demographic/geographic
  • Iterate and select the best and most relevant segmentation model, coming from any of the below techniques:
    • Latent Class
    • CHAID
    • Hierarchical
    • K-means
    • 2-Step
    • C&RT
    • Discriminant Analysis
  • In-depth profiling of segments to develop distinctly clear “Personas”, representing each segment through a snapshot
  • Experience of applying market segmentation for reputed brands across varied sectors

Pricing Research

  • Price optimization to maximize profit
  • Price sensitivity analysis to attain an optimal price
  • Monetary value attribution modeling

Marketing & Sales Effectiveness

  • Market Mix Modelling
  • Key Driver Analysis
  • ROI Analysis
  • Market Simulation and What-If Analysis

CRM Analytics

  • Customer Lifetime & Customer Valuation Modelling
  • Customer Retention/Loyalty Modelling
  • Customer Satisfaction Analysis

Market Assessment & Commercialization

  • Market Assessment from commercialization & business perspective
  • Market Sizing & Forecasting
  • Evaluation of target market from financial perspective

Financial Modeling

  • Develop a full-fledged business model to assess new business opportunities, as well as for other strategic purposes
  • Conduct market research to validate realistic assumptions

Predictive Modeling

  • Develop predictive models to identify important variables and to deliver accurate predictions of market outcomes based on data
  • Integrate data from multiple sources such as primary data, secondary data, CRM data, social media data etc.
  • Apply array of techniques such as Linear Regression, Logistic Regression, Hierarchical Bayes Models, CART, Factor Analysis etc. to develop the right model