After more than two years of development, we are pleased to announce the release of Choice-Based Conjoint (CBC) v2 for Windows. Choice-Based Conjoint (sometimes called Discrete Choice) has gained significantly in popularity over the years. Rather than having respondents rank-order or rate product concepts (defined on multiple attributes) as with traditional conjoint analysis or ACA, respondents perform a task that better mimics what they do in the real world: they make choices within sets of available products. CBC has proven very useful for problems that involve about six or fewer attributes. CBC has particularly found use in pricing research studies, where it can estimate unique price sensitivities for distinct brands.
Until recently, the use of CBC has faced a significant methodological shortcoming: it generally could not be used to estimate stable individual-level part worths. Rather, CBC users pooled data by estimating aggregate logit models. Pooling data had the advantage of being able to manage larger models that, for example, could accommodate interaction terms. However, aggregation resulted in simulation models that could provide misleading results due to problems with IIA (Independence from Irrelevant Alternatives), also known as the Red Bus/Blue Bus problem. With the recent availability of estimation techniques that achieve individual-level utilities from CBC data (ICE and HB), this issue has largely been resolved.
CBC v2 is the first component within the planned Suite of Marketing Research Tools (SMRT Suite). Other software packages (including ACA) will later integrate within this suite and share many common dialogs (e.g. entering attributes) and functions (e.g. market simulator) with CBC.
CBC v2 offers significant improvements to nearly every aspect of the system, including:
- A polished Windows point-and-click interface manages all aspects of questionnaire writing. Graphics, sound or video files can be included. Text and graphics are automatically sized within product concept boxes.
- New capacity limits: 10 attributes with up to 15 levels each. Up to 16 alternatives can be displayed per task, horizontally, vertically, or in grids (e.g. 3 x 3).
- Can generate paper-and-pencil questionnaires (the once separate Paper-and-Pencil Module has been wrapped into the base CBC System).
- WYSIWYG hard-copies of your questionnaire can be printed.
- CBC v2 includes data management programs previously only available in Ci3 v2.5, including View/Edit Data and Data Doctor.
- Merge Wizard makes it simple to merge information into your CBC data set from Ci3 or ASCII files.
- Windows market simulator includes a new model called "Randomized First Choice" that has been demonstrated to deal better with product similarity and IIA issues than the "Correction For Product Similarity" model previously offered.
- Market simulation output can be "cut-and-pasted" into spreadsheets.
- Future modules (not yet available) within SMRT will import ACA, CVA, ICE, HB and Lclass utilities for use in the market simulator.
- A cross-tabulation program is included for analyzing segmentation and merged information.
- Weights can be specified for use in counts, cross-tabulations and logit.
Free Demo Version of CBC v2 Available on the Web
You can download a free demo version of CBC v2 at www.sawtoothsoftware.com/trial.htm. You can use this software to develop questionnaires and analyze data for a sample study. Since this is a large file to download (roughly 6 MB), we can send you a CD-ROM in the mail if you would prefer. Please call us at 360/681-2300 to request the free CD-ROM.