Discrete choice experiments in marketing

The chapter positions the dissertation within the marketing discipline and compares two popular methods for studying consumer preferences: conjoint analysis and discrete choice experiments. It describes the context of discrete choice experiments and discusses the research problems and objectives of the dissertation. The chapter concludes with an outline of the dissertation's organization. In the current century, globalization and technological advancements have compelled companies to adapt rapidly, presenting both threats and opportunities. Survival in this competitive marketplace requires companies to produce marketable value—products and services that consumers are willing to purchase. New-product development is essential, as competitors strive to meet consumer demands. Successful products often lead to sales growth and stability, particularly as household incomes rise and consumers become more selective. To thrive, firms must understand consumer responses to various features and appeals. This understanding of consumer preferences is crucial for creating tailored products that meet market demand, ensuring that companies can effectively satisfy their customers' needs and wants.