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Designing discrete choice survey

pawel

New Contributor

Joined:

Sep 25, 2017

I have my responses data in one table, and my Choice Profiles data in the second table. I am struggling to find functionality that would be able to specify which columns from my responses (I have 9 different questions) are responsible for each row from my Choice Profiles. What is the best way to link these two? 

1 ACCEPTED SOLUTION

Accepted Solutions
melinda_thielba

Joined:

May 27, 2014

Solution

Hi, Pawel,

Usually, when you do Willingness to Pay (WTP), you use the most basic product (the one with the fewest features) as your baseline with a low price. Each line, then, is the Willingness to Pay for an "upgrade" for that feature. 

The "Price Change" is what the customer is willing to pay for an upgrade, so in the attached example, you could charge $959.67 more for a larger hard drive. "New Price" is what you could charge for the whole product with the baseline settings plus that one upgrade (so, New Price - Price Change = baseline price).

Capture.JPG

The laptop example is pretty old. I'm not sure anyone would pay $950+ for a 40GB of storage these days! 

6 REPLIES
txnelson

Super User

Joined:

Jun 22, 2012

It would be very helpful if you could attach a sample of the data from each of your tables.

Jim
pawel

New Contributor

Joined:

Sep 25, 2017

Please see attached. I appreciate it is probably fairly basic, but I cannot find my way around it. 

ian_jmp

Staff

Joined:

Jun 23, 2011

It's probable JMP will take care of it for you. If the two tables you show were generated by 'DOE > Consumer Studies > Choice Design':

Screen Shot 2017-09-26 at 09.28.19.png

then, when you do 'Analyze > Consumer Research > Choice' you just have to select the right 'Data Format' option:

Screen Shot 2017-09-26 at 09.33.47.png

 

pawel

New Contributor

Joined:

Sep 25, 2017

Done as requested and it helped me a lot. 

 

I recently got to  the Willingness to Pay calculation, and have problems with interpreting the data. First of all, does the JMP SAS methodology to calculate WTP from discrete choice follow the logistics function?  Secondly, I am not sure what the New Price I got to actually represents? I started from the price of 20 as baseline and it gives me £7.58? How can i understand it? Do you have any defintion of it?

 

Thank you for your prompt replies, I found them very useful. 

 

 

phil_kay

Staff

Joined:

Jul 22, 2014

http://www.jmp.com/support/help/13-2/Willingness_to_Pay.shtml#453057

http://www.jmp.com/support/help/Valuing_Trade-offs.shtml

 

Hi Pawel,

These links should be useful. In addtion, try searching "willingness to pay" in the community.

 

I hope this helps.

 

Phil

 

melinda_thielba

Joined:

May 27, 2014

Solution

Hi, Pawel,

Usually, when you do Willingness to Pay (WTP), you use the most basic product (the one with the fewest features) as your baseline with a low price. Each line, then, is the Willingness to Pay for an "upgrade" for that feature. 

The "Price Change" is what the customer is willing to pay for an upgrade, so in the attached example, you could charge $959.67 more for a larger hard drive. "New Price" is what you could charge for the whole product with the baseline settings plus that one upgrade (so, New Price - Price Change = baseline price).

Capture.JPG

The laptop example is pretty old. I'm not sure anyone would pay $950+ for a 40GB of storage these days!