Webinar: Menu-Based Conjoint: a new method
description
Transcript of Webinar: Menu-Based Conjoint: a new method
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SKIM Webinar “Menu Based Conjoint: A New Method”
Menu-Based Conjoint: a new method
Stefan Ammerlaan
Research Consultant
RSS
Abigail Joffre
Today’s webinar host
#SKIMwebinar
Share your thoughts online:
Paolo Cordella
Research Consultant
RSS
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SKIM Webinar “Menu Based Conjoint: A New Method”
• Who are we?
• Choice modeling •• Menu Based Choice (MBC)
• The Curly Fries Story
• Other markets
• So what?•• Questions?
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SKIM Webinar “Menu Based Conjoint: A New Method”
SKIM
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
SKIM is a rapidly growing agency that aims to be close to our clients and markets
4
San FranciscoNew York
London
GenevaRotterdam
= current offices
= future offices
= where we have conducted research
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
SKIM = Modeling of choice behavior
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SKIM Webinar “Menu Based Conjoint: A New Method”
Choice modeling
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Choice modeling
• Consumer
• What do I buy?
• Market research
• <- Translator ->
• Marketer
• What do I sell?
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Choice modeling
• Consumer
• What do I buy?
• Market research
• <- Translator ->
Why?
• Marketer
• What do I sell?
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Conjoint
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Conjoint
Attributes and levels
• Flavor • Paprika, Original
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Conjoint
Attributes and levels
• Flavor • Paprika, Original
• Price• €0.80, €0.90, €1.00, €1.10, €1.20
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Example: Crisps
€ 1.00
or
€ 1.00
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Example: Crisps
€ 1.10
or
€ 0.80
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Example: Crisps
€ 0.90
or
€ 1.20
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Choice modeling
• Consumer
• What do I buy?
Paprika €1.10
• Market research
• <- Translator ->
Conjoint
• Marketer
• What do I sell?
Paprika €1.10
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Conjoint
Attributes and levels
• Flavor • Paprika, Original
• Price• €0.80, €0.90, €1.00, €1.10, €1.20
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Conjoint
Attributes and levels
• Flavor • Paprika, Original, cheese onion, BBQ, hot and spicy, Tomato, etc etc
• Price• €0.80, €0.90, €1.00, €1.10, €1.20
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Conjoint
Attributes and levels
• Flavor • Paprika, Original, cheese onion, BBQ, hot and spicy, Tomato, etc etc
• Price• €0.60, €0.70, €0.80, €0.90, €1.00, €1.10, €1.20, €1.30,
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Conjoint
Attributes and levels
• Flavor • Paprika, Original, cheese onion, BBQ, hot and spicy, Tomato, etc etc
• Price• €0.60, €0.70, €0.80, €0.90, €1.00, €1.10, €1.20, €1.30,
• Brand• Lays, Croky, Smith, Pringles
• Size• 100gr, 200gr, 250gr, 300gr
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Example: Crisps
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Choice modeling
• Consumer
• What do I buy?
• Market research
• <- Translator ->
• Marketer
• What do I sell?
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Choice modeling
• Consumer
• What do I buy?
• Market research
• <- Translator ->
CBC
• Marketer
• What do I sell?
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Choice modeling
• Consumer
• What do I buy?
• Market research
• <- Translator ->
ACBC
• Marketer
• What do I sell?
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Choice modeling
• Consumer
• What do I buy?
• Market research
• <- Translator ->
Maxdiff
• Marketer
• What do I sell?
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SKIM Webinar “Menu Based Conjoint: A New Method”
Menu Based Choice (MBC)
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Basic Digital TV - €25
Comfort Digital TV & Record - €32.50
Comfort ++ Digitale TV & Record &
Tablet - €37.50
HD TV - €4
Extra media box - €4
Led light media box - €1
95 Extra channels - €5
Movie Package - €8
Sport package €17
Your total price €32,50
Extra options: Extra channels
1
2 3
MBC - TV options
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SKIM Webinar “Menu Based Conjoint: A New Method”
The Curly Fries Story
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
DavidSenior Product manager
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
...back in the 80s…
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
...back in the 80s…
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
...back in the 80s…...and in the 90s…
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
...and today…
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
PhilipJunior Product manager
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Easy FriesHealthy, Young, Awesome
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
The battle
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
David or Philip?
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
The solution
JenniferMarket Researcher at MIKS
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
or
The question
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
or
The question
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
The method
MBCMenu Based Conjoint
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
1$ 3$ 1$ 1.5$
Make your choice
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Make your choice
1$ 3$ 1$ 1.5$
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Make your choice
1$ 3$ 1$ 1.5$1.5$
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Make your choice
1$ 3$ 1$ 1.5$1.5$
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
0.8$
Make your choice
1$ 3$ 1.5$1.5$1$
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Make your choice
1$ 3$ 0.8$ 1.5$1.5$
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Make your choice
1$ 3$ 0.8$ 1.5$1.5$
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
0.8$
Make your choice
1$ 3$ 1.5$1.5$
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Make your choice
1$ 3$ 1.5$1.5$
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Insight #1# People choose Tender Grill with Curly Fries.
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Insight #1# If Donald King delists Curly Fries….
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Insight #1# …people will buy less Tender grill
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Insight #2
# Curly Fries Lovers …
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Insight #2# …they don’t come to Donald King anymore
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
So what?
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
So what?# Keep Curly Fries at $0.8
Revenue
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
What about me?
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Can we still include Easy Fries?
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Insight #3
# New segment, the “Green” families
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Insight #3
# New segment, the “Green” families
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Insight #4
# No cannibalization effects
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Insight #4
# Two different segments
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
So what?
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
So what?# Launch Easy Fries at $1.5
Revenue
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
or
So what?
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
or
So what?
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
and
The solution
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
and
The solution
$0.8 $1.5
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
So what?
SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”
MBC: Other markets
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
MBC - Car options
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Base price: €10,000
Driver comfort€ 440
Sport package
€ 760
Cabin Comfort Plus€ 265
Metallic paint € 450
Heated mirrors € 150
Alloy Wheels € 350
GPS navigator €150
GPS alarm € 320
MBC - Car optionsComfort Seat € 90
Parking sensors € 195
Rain sensor € 265
Air conditioning € 90
Audio system € 75
Heating seats € 165 Navigation Pack
€ 375
Total price €10,000
![Page 73: Webinar: Menu-Based Conjoint: a new method](https://reader038.fdocuments.net/reader038/viewer/2022110115/54b88e4f4a7959547a8b45e4/html5/thumbnails/73.jpg)
SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Base price: €10,000
MBC - Car options
Total price €10,000
Comfort Seat € 90
Parking sensors € 195
Rain sensor € 265
Driver comfort€ 440
Sport package
€ 760
Cabin Comfort Plus€ 265
Metallic paint € 450
Heated mirrors € 150
Alloy Wheels € 350
GPS navigator €150
GPS alarm € 320
Air conditioning € 90
Audio system € 75
Heating seats € 165 Navigation Pack
€ 375
![Page 74: Webinar: Menu-Based Conjoint: a new method](https://reader038.fdocuments.net/reader038/viewer/2022110115/54b88e4f4a7959547a8b45e4/html5/thumbnails/74.jpg)
SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Base price: €10,000
MBC - Car options
Total price €10,000
Comfort Seat € 90
Parking sensors € 195
Rain sensor € 265
Driver comfort€ 440
Sport package
€ 760
Cabin Comfort Plus€ 265
Metallic paint € 450
Heated mirrors € 150
Alloy Wheels € 350
GPS navigator €150
GPS alarm € 320
Air conditioning € 90
Audio system € 75
Heating seats € 165 Navigation Pack
€ 375
![Page 75: Webinar: Menu-Based Conjoint: a new method](https://reader038.fdocuments.net/reader038/viewer/2022110115/54b88e4f4a7959547a8b45e4/html5/thumbnails/75.jpg)
SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Base price: €10,000
MBC - Car options
Total price €10,000
Comfort Seat € 90
Parking sensors € 195
Rain sensor € 265
Driver comfort€ 440
Sport package
€ 760
Cabin Comfort Plus€ 265
Metallic paint € 450
Heated mirrors € 150
Alloy Wheels € 350
GPS navigator €150
GPS alarm € 320
Air conditioning € 90
Audio system € 75
Heating seats € 165 Navigation Pack
€ 375
![Page 76: Webinar: Menu-Based Conjoint: a new method](https://reader038.fdocuments.net/reader038/viewer/2022110115/54b88e4f4a7959547a8b45e4/html5/thumbnails/76.jpg)
SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Base price: €10,000
MBC - Car options
Total price €11,355
Comfort Seat € 90
Parking sensors € 195
Rain sensor € 265
Driver comfort€ 440
Sport package
€ 760
Cabin Comfort Plus€ 265
Metallic paint € 450
Heated mirrors € 150
Alloy Wheels € 350
GPS navigator €150
GPS alarm € 320
Air conditioning € 90
Audio system € 75
Heating seats € 165 Navigation Pack
€ 375
![Page 77: Webinar: Menu-Based Conjoint: a new method](https://reader038.fdocuments.net/reader038/viewer/2022110115/54b88e4f4a7959547a8b45e4/html5/thumbnails/77.jpg)
SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Base price: €10,000
MBC - Car options
Total price €10,000
Comfort Seat € 90
Parking sensors € 195
Rain sensor € 265
Driver comfort€ 440
Sport package
€ 760
Cabin Comfort Plus€ 265
Metallic paint € 450
Heated mirrors € 150
Alloy Wheels € 350
GPS navigator €150
GPS alarm € 320
Air conditioning € 90
Audio system € 75
Heating seats € 165 Navigation Pack
€ 375
![Page 78: Webinar: Menu-Based Conjoint: a new method](https://reader038.fdocuments.net/reader038/viewer/2022110115/54b88e4f4a7959547a8b45e4/html5/thumbnails/78.jpg)
SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Base price: €10,000
MBC - Car options
Total price €10,000
Comfort Seat € 90
Parking sensors € 195
Rain sensor € 265
Driver comfort€ 500
Sport package
€ 650
Cabin Comfort Plus€ 165
Metallic paint € 450
Heated mirrors € 150
Alloy Wheels € 350
GPS navigator €150
GPS alarm € 320
Air conditioning € 90
Audio system € 75
Heating seats € 165 Navigation Pack
€ 275
![Page 79: Webinar: Menu-Based Conjoint: a new method](https://reader038.fdocuments.net/reader038/viewer/2022110115/54b88e4f4a7959547a8b45e4/html5/thumbnails/79.jpg)
SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Base price: €10,000
MBC - Car options
Total price €11,395
Comfort Seat € 90
Parking sensors € 195
Rain sensor € 265
Driver comfort€ 500
Sport package
€ 660
Cabin Comfort Plus€ 165
Metallic paint € 450
Heated mirrors € 150
Alloy Wheels € 350
GPS navigator €150
GPS alarm € 320
Air conditioning € 90
Audio system € 75
Heating seats € 165 Navigation Pack
€ 275
![Page 80: Webinar: Menu-Based Conjoint: a new method](https://reader038.fdocuments.net/reader038/viewer/2022110115/54b88e4f4a7959547a8b45e4/html5/thumbnails/80.jpg)
SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
€500€400
MBC - Car options - So what?
Driver comfort
%
Price€450
Price Sensitivity Simulation
Driver comfort
Comfort Seat
Parking sensors
Rain sensor
€ 500
€ 90
€ 195
€ 265
18.5%
7.2%
11.3%
9.9%
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
€450
3.4%
€ 90
€ 195
€ 265
Driver comfort
Comfort Seat
Parking sensors
Rain sensor
€500€400
MBC - Car options - So what?
Driver comfort
%
Price€450
Price Sensitivity Simulation
11.3%
9.9%
25.3%18.5%
7.2%
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
MBC - TV options
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Basis Digital TV - €25
Comfort Digital TV & Record - €32.50
Comfort ++ Digitale TV & Record &
Tablet - €37.50
HD TV - €4
Extra media box - €4
Led light media box - €1
95 Extra channels - €5
Movie Package - €8
Sport package €17
Your total price €32,50
Extra options: Extra channels
1
2 3
MBC - TV options
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Basis Digital TV - €25
Comfort Digital TV & Record - €32.50
Comfort ++ Digitale TV & Record &
Tablet - €37.50
HD TV - €4
Extra media box - €4
Led light media box - €1
95 Extra channels - €5
Movie Package - €8
Sport package €17
Your total price €53,50
Extra options: Extra channels
1
2 3
MBC - TV options
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
MBC: where else?
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SKIM Webinar “Menu Based Conjoint: A New Method”
So what?
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Choice modeling
• Consumer
• What do I buy?
• Market research
• <- Translator ->
• Marketer
• What do I sell?
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Choice modeling
• Consumer
• What do I buy?
• Market research
• <- Translator ->
MBC
• Marketer
• What do I sell?
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
Three times in three words
• Build Your Own
• Optimizing becomes harder
• Menu Based Choice
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SKIM Webinar “Menu Based Conjoint: A New Method”SKIM Webinar “Menu Based Conjoint: A New Method”
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SKIM Webinar “Menu Based Conjoint: A New Method”
Go to www.skimgroup.com/webinars for today’s presentation slides and more!
Paolo [email protected]
+31 10 282 3568
Stefan [email protected]
+31 10 282 3552
Abigail [email protected]
+31 10 282 3514
@SKIMgroup
#SKIMwebinar
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