Menu-Based Choice (MBC) is advanced discrete choice modeling software for multi-check menu studies. Many products and services allow buyers to choose among a variety of options in configuring their preferred product. Examples include restaurant menus, financial services, insurance options, automobile purchases, and choice of telephone/internet/cable options. Menu-Based Choice studies are useful for studying mixed bundling, where buyers can select pre-designed bundles of items and also items a la carte. Includes logit and HB modules, plus simulations (including Excel simulation option).
Increasingly, stated preference choice projects involve Menu-Based Choice scenarios (MBC) where respondents can select one to multiple options from a menu. This is not surprising, given the fact that buyers commonly are allowed to customize products and services (mass customization). Examples include:
- choosing options to put on an automobile
- selections from a restaurant menu
- banking options
- configuring an insurance policy
- purchasing bundled vs. a la carte services including mobile phones, internet, and cable.
The software takes a data processing and analysis process that can take experienced analysts from one to two weeks to do and compresses the timeline to 1 to 2 days.
For using the MBC software once data has been collected, the user should have solid background in CBC and multivariate statistical modeling, especially in terms of building models (regression, MNL) and the theory behind coding independent variables. While the software manages most details involving the data processing, independent variable coding, model estimation and simulations, the user must understand and direct the process intelligently.
Sawtooth Software's new Menu Based Choice (MBC) software has unlocked a field of conjoint that was only previously available to elite conjoint users. What would have taken the analyst days (probably weeks in some cases) to set up the analysis and simulations can now be accomplished in a matter of hours and the flexibility that the software offers regarding specifying different cross-effect models means that MBC can now become a mainstream conjoint technique.
I was particularly impressed with the way Sawtooth Software has designed the software to allow for the multitude of ways that accompany MBC projects and I look forward to using it in the future.Chris Moore, GfK NOP, UK
With the successful completion of several large-scale projects, Menu-Based Choice has proven to be a highly useful addition to our portfolio of choice modeling approaches. It provides an approach perfectly suited to research problems involving multi-step purchase decisions. The results have been well-received by our clients, two of whom have commissioned a second study based on the results they have seen.Karen Buros, Radius Global Market Research