Webinar: Menu-Based Conjoint: a new method

SKIM Webinar “Menu Based Conjoint: A New Method”

Menu-Based Conjoint: a new method

Stefan Ammerlaan

Research Consultant

Abigail Joffre

Today’s webinar host

#SKIMwebinar

Share your thoughts online:

Paolo Cordella

Research Consultant

• Who are we?

• Choice modeling •• Menu Based Choice (MBC)

• The Curly Fries Story

• Other markets

• So what?•• Questions?

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

San FranciscoNew York

London

GenevaRotterdam

= current offices

= future offices

= where we have conducted research

SKIM = Modeling of choice behavior

Choice modeling

• Consumer

• What do I buy?

• Market research

• <- Translator ->

• Marketer

• What do I sell?

Choice modeling

• Consumer

• What do I buy?

• Market research

• Marketer

• What do I sell?

Conjoint

Attributes and levels

• Flavor • Paprika, Original

Conjoint

• Price• €0.80, €0.90, €1.00, €1.10, €1.20

Example: Crisps

€ 1.00

Example: Crisps

€ 1.10

€ 0.80

Example: Crisps

€ 0.90

€ 1.20

Choice modeling

• Consumer

• What do I buy?

Paprika €1.10

• Market research

Conjoint

• Marketer

• What do I sell?

Paprika €1.10

Conjoint

• Price• €0.80, €0.90, €1.00, €1.10, €1.20

Conjoint

• Flavor • Paprika, Original, cheese onion, BBQ, hot and spicy, Tomato, etc etc

• Price• €0.80, €0.90, €1.00, €1.10, €1.20

Conjoint

• Price• €0.60, €0.70, €0.80, €0.90, €1.00, €1.10, €1.20, €1.30,

Conjoint

• 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

Example: Crisps

Choice modeling

• Consumer

• What do I buy?

• Market research

• Marketer

• What do I sell?

Choice modeling

• Consumer

• What do I buy?

• Market research

• Marketer

• What do I sell?

Choice modeling

• Consumer

• What do I buy?

• Market research

• Marketer

• What do I sell?

Choice modeling

• Consumer

• What do I buy?

• Market research

Maxdiff

• Marketer

• What do I sell?

Menu Based Choice (MBC)

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

MBC - TV options

The Curly Fries Story

DavidSenior Product manager

...back in the 80s…

...back in the 80s…...and in the 90s…

...and today…

PhilipJunior Product manager

Easy FriesHealthy, Young, Awesome

The battle

David or Philip?

The solution

JenniferMarket Researcher at MIKS

The question

The method

MBCMenu Based Conjoint

1$ 3$ 1$ 1.5$

Make your choice

1$ 3$ 1$ 1.5$

Make your choice

1$ 3$ 1$ 1.5$1.5$

Make your choice

1$ 3$ 1$ 1.5$1.5$

Make your choice

1$ 3$ 1.5$1.5$1$

Make your choice

1$ 3$ 0.8$ 1.5$1.5$

Make your choice

1$ 3$ 0.8$ 1.5$1.5$

Make your choice

1$ 3$ 1.5$1.5$

Make your choice

1$ 3$ 1.5$1.5$

Insight #1# People choose Tender Grill with Curly Fries.

Insight #1# If Donald King delists Curly Fries….

Insight #1# …people will buy less Tender grill

Insight #2

# Curly Fries Lovers …

Insight #2# …they don’t come to Donald King anymore

So what?

So what?# Keep Curly Fries at $0.8

Revenue

What about me?

Can we still include Easy Fries?

Insight #3

# New segment, the “Green” families

Insight #3

# New segment, the “Green” families

Insight #4

# No cannibalization effects

Insight #4

# Two different segments

So what?

So what?# Launch Easy Fries at $1.5

Revenue

So what?

The solution

$0.8 $1.5

So what?

MBC: Other markets

MBC - Car options

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

MBC - Car options

Comfort Seat € 90

Rain sensor € 265

Sport package

€ 760

GPS alarm € 320

Audio system € 75

€ 375

MBC - Car options

Comfort Seat € 90

Rain sensor € 265

Sport package

€ 760

GPS alarm € 320

Audio system € 75

€ 375

MBC - Car options

Comfort Seat € 90

Rain sensor € 265

Sport package

€ 760

GPS alarm € 320

Audio system € 75

€ 375

MBC - Car options

Comfort Seat € 90

Rain sensor € 265

Sport package

€ 760

GPS alarm € 320

Audio system € 75

€ 375

MBC - Car options

Comfort Seat € 90

Rain sensor € 265

Sport package

€ 760

GPS alarm € 320

Audio system € 75

€ 375

MBC - Car options

Comfort Seat € 90

Rain sensor € 265

Sport package

€ 650

GPS alarm € 320

Audio system € 75

€ 275

MBC - Car options

Comfort Seat € 90

Rain sensor € 265

Sport package

€ 660

GPS alarm € 320

Audio system € 75

€ 275

€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

€450

€ 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

25.3%18.5%

MBC - TV options

Basis Digital TV - €25

Tablet - €37.50

HD TV - €4

Sport package €17

MBC - TV options

Basis Digital TV - €25

Tablet - €37.50

HD TV - €4

Sport package €17

MBC - TV options

MBC: where else?

So what?

Choice modeling

• Consumer

• What do I buy?

• Market research

• Marketer

• What do I sell?

Choice modeling

• Consumer

• What do I buy?

• Market research

• Marketer

• What do I sell?

Three times in three words

• Build Your Own

• Optimizing becomes harder

• Menu Based Choice

Go to www.skimgroup.com/webinars for today’s presentation slides and more!

Paolo cordellap.cordella@skimgroup.com

+31 10 282 3568

Stefan Ammerlaans.ammerlaan@skimgroup.com

+31 10 282 3552

Abigail Joffrea.joffre@skimgroup.com

+31 10 282 3514

@SKIMgroup

#SKIMwebinar

Share your thoughts online:

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