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How to profile buyers in choice modelling

HI all,

Probably a stupid question but one that has me slightly stumped. I have run an ACBC and have determined what proportion of the market would purchase different product configurations. Now what I want to know is WHO would buy the product. Is it mostly men or women? Mostly those who are employed or are students? Young or old? I can run simulations segmented by these groups and compare them, but that seems really inefficient and doesn't directly address the issue - if 15% of the population would buy this product, what are their characteristics?

I'm guessing there's no way to do this in the simulator. Do I need to export the utility values and calculate myself who would buy a particular product configuration, and then profile them?
asked 4 days ago by Sharon Morris (275 points)

1 Answer

0 votes

I've done this a couple of different ways.

The first is as you suggest - run the simulation, identify the folks who would likely buy your target product and then take that data out and run some predictive modeling to see which other variables (demographics, psychographics, etc.) are significantly related.  You can do this via correlation analysis or ANOVA, but if your number of  potential predictors is large, I'll often run a discriminant analysis or a classification tree to find the significant predictors.  

The second is one we don't do all the time, but that works nicely when you can anticipate the need in advance.  Here we have all the potential profiling or predictor variables also loaded into the simulator and we build a custom Excel simulator.  In addition to showing the shares of each product you've configured in the simulator, it also shows summary statistics for each (demographic/attitudinal/behavioral) predictor for which you have data.  We often call this a "profiling simulator."  It's enough of an effort that we don't do it all that often, but, as you can imagine, when it's the right tool for the job, it's really nice to have!
answered 4 days ago by Keith Chrzan Platinum Sawtooth Software, Inc. (95,175 points)
Thanks Keith. When you say "take that data out', what process do you mean to export the data?
It varies by what kind of simulator you've built.  I build most of mine in Excel, and there it's just a matter of digging into the right columns on the right tab.  In our online simulator there's a button that allows you to export individual respondent level data.  In our desktop simulator, the one that's built into Lighthouse Studio, I usually export an Excel simulator and then find the data columns I need.