Chapter Section Outline (9 Sections)
Topics and managerial frameworks covered in Conjoint Analysis & Choice Modeling:
- 1. Why Conjoint? — The Problem of Stated vs. Revealed Preference
- 2. Utility in Plain English
- 3. Traditional (Ratings-Based) Conjoint
- 4. Choice-Based Conjoint (CBC) — The Industry Standard
- 5. Advanced Conjoint Variants
- 6. Market Simulation — The Payoff
- 7. Design Pitfalls and Best Practices
- 8. Conjoint in the Age of AI
- 9. Case Application — PeakGear Backpack Line
Interactive Concept Mini-Widgets Embedded in This Chapter (5)
Students manipulate these interactive visual simulations directly inside the chapter reading before answering gated check-in questions:
Rig the Ranking
The student is handed a goal and asked to MANUFACTURE it. Mission 1: the CMO loves the brand and wants the research to crown BRAND the most important attribute — pick a price range that delivers that headline and lock it in.
Rate It, Then Choose: Why the Scale Lies
The student answers the SAME preference question twice: once as "rate each feature 1-10", once as best-worst. Then their own two answers are put side by side.
WTP Reality Check
Part-worths: "premium cushioning" = +0. 8 utility; price = -0.
Teaches: conjoint WTP is directional, not a price tag. Report with caveats; never hand a stakeholder "$20 of utility" as "charge $20 more."
Conjoint Attribute Ranker
Show a product category + 6 candidate attributes. Student ranks top-3 for conjoint inclusion and learns why some attributes are better conjoint candidates.
Simulate or Not?
Present a business question. Student decides whether conjoint market simulation can answer it, or not.
Paired Browser-Based Analytics Calculators (1)
This chapter connects directly to these full MktPraxis analytical apps (with pre-loaded business case scenarios, CSV upload, and reproducible Python export):
⚖️ MaxDiff (Best-Worst Scaling) Analyzer
Rank messages, features or benefits on a ratio scale that sums to 100. Forces trade-offs where rating scales let everything look important.
Pre-loaded Business Scenarios: Which Benefits Actually Attract Talent? — CivicPulse · Which Message Leads the Campaign? — Harborline Bank · Prioritising the Backpack Roadmap — SummitGear