Watching Customers Decide: Process Measures Add Insights to Choice Modeling Experiments
Eric J. Johnson
Robert J. Meyer
Bruce G.S. Hardie
Volume 9, Number 4
|Although multi-attribute choice and judgment models have been used
to support the product design decisions of firms in a wide variety of industries,
their application nevertheless comes with a couple of important caveats.
First, some argue that most modeling approaches are limited in their ability
to provide detailed insights into how consumers are actually processing
product attribute information when making choices. Second, current methods
do little to mitigate the natural hesitation by most managers to make high-stakes
decisions on the basis of a single data source. One methodology -- process-assisted
choice modeling -- addresses both these concerns. A case study of how PACMod
might be applied is presented.