Market Share Uncertainty Modeling for Decision-Analytic Concept Evaluation
In a product developmental phase, analysis of consumer needs and modeling of market share uncertainty permit selection of the concept that will best maximize profit. This article discusses a method to model uncertainty by integrating bootstrap with conjoint analysis to obtain market share distribution. Conjoint analysis is a widely used marketing research method to analyze how consumers made trade-off's among competing products. Bootstrap is a computer-based statistical technique that uses the original sample data to generate many data sets. It uses sampling with replacement technique from which relevant statistics can be calculated. the original sample data is obtained from CA and used to generate bootstrapped samples from which market share distribution is determined.
S. S. Razu and S. Takai, "Market Share Uncertainty Modeling for Decision-Analytic Concept Evaluation," Proceedings of the 3rd Annual ISC Research Symposium, Missouri University of Science and Technology, Jan 2009.
3rd Annual ISC Research Symposium
Mechanical and Aerospace Engineering
Keywords and Phrases
Conjoint Analysis; Bootstrap; Uncertainty Modeling; Market Share; Consumer Trade-Offs
Article - Conference proceedings
© 2009 Missouri University of Science and Technology, All rights reserved.