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Reflections and Extensions on Key Papers of the First Twenty-Five Years of Advances
Type: Book
ISBN: 978-1-78756-435-0

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Book part
Publication date: 27 December 2018

Matthew S. Wood and J. Robert Mitchell

Judgments and decision are central to entrepreneurship, but capturing them empirically is challenging. Shepherd and Zacharakis (1997) addressed this challenge by…

Abstract

Judgments and decision are central to entrepreneurship, but capturing them empirically is challenging. Shepherd and Zacharakis (1997) addressed this challenge by identifying metric conjoint analysis as an experimental method capable of capturing the decision policies of actors engaged in entrepreneurial task, creating a “window of opportunity” for entrepreneurship research. On the twentieth anniversary of this chapter, the authors reflect on the impact the ideas had on their own work and careers, while, at the same time, address the possibility that the “typical” conjoint study may have reached the end. From this platform, the authors identify unknown attributes, interactive effects, rich media, mixed methods, and sophisticated data analysis as potential pathways by which conjoint analysis can continue to advance understanding of entrepreneurship. Their conclusion is that when coupled with impactful research questions, innovative uses of conjoint analysis have an important role to play in the future of entrepreneurship research. Hence, the authors believe that Dean A. Shepherd’s and Zach Zacharakis’s bold effort will continue as a quintessential resource for those researchers who wish to tap the mind of entrepreneurs, investors, and other key actors as they traverse the journey of business venturing.

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Reflections and Extensions on Key Papers of the First Twenty-Five Years of Advances
Type: Book
ISBN: 978-1-78756-435-0

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Book part
Publication date: 1 August 2004

Richard L Priem, Hermann A Ndofor and Kathleen E Voges

Behavioral scientists have long sought to capture how individuals’ understandings, perceptions and beliefs affect their decisions, often through examining the underlying…

Abstract

Behavioral scientists have long sought to capture how individuals’ understandings, perceptions and beliefs affect their decisions, often through examining the underlying cognitive processes that drive action (Schendel & Hofer, 1979). Economists, for example, are interested in how individuals’ utility functions influence their actions. Marketing researchers investigate how consumers’ preferences are reflected in their purchase behaviors. Organization researchers examine individual characteristics that influence outcomes such as job satisfaction, promotion, and turnover (Aiman-Smith et al., 2002).

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Research Methodology in Strategy and Management
Type: Book
ISBN: 978-1-84950-235-1

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Review of Marketing Research
Type: Book
ISBN: 978-0-85724-727-8

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Article
Publication date: 9 March 2012

Michael S. Garver, Zachary Williams, G. Stephen Taylor and William R. Wynne

Much of the research conducted in logistics/SCM has focused on satisfaction/retention of customers. This has left a critical gap for managers: before customers can be…

Abstract

Purpose

Much of the research conducted in logistics/SCM has focused on satisfaction/retention of customers. This has left a critical gap for managers: before customers can be satisfied and ultimately retained, a purchase choice of logistics services has to occur. To date, very little research has addressed how logistics customers make purchase choice decisions about logistics services. The purpose of this paper, using logistics research methods, is to introduce adaptive choice modelling (ACM) to address this gap and put forth a research method that is useful for academic researchers and logistics/SCM managers.

Design/methodology/approach

This paper provides an overview of ACM, along with a discussion of its important research advantages, limitations, and practical applications. Additionally, an empirical demonstration of this research technique is provided to illustrate how academic researchers and logistics managers can use ACM to better understand the decision‐making process of customers when selecting logistics services.

Findings

In order to demonstrate this research technique, a research project was designed and implemented that analyzed the choice process of consumers selecting parcel carriers to ship a textbook. The results show that price, speed of delivery, and tracking are the three most important variables in the selection decision. The results also show that consumers are not homogeneous, but can be divided into five distinct need‐based segments. Recognizing and understanding the nature of these segments should help managers better meet the needs of parcel shippers.

Research limitations/implications

The main research limitation with this study is that it is based on a convenience sample; thus future research will need to replicate this study to confirm the research findings. However, the ultimate purpose of the study is to present a new research method and discuss how to apply this method, so that logistics/SCM practitioners and academic researchers can better understand customers of logistics/SCM services. Thus, while the nature of the sample is a limitation, it should be viewed in this context.

Originality/value

While conjoint analysis has existed for decades, this technique has rarely been implemented by logistics/SCM researchers and practitioners. Instead, logistics/SCM researchers and practitioners have focused more on retention methods and have virtually ignored modelling the actual purchase choice of logistics/SCM services. New advancements in conjoint analysis, specifically the ACM approach, have many important and unique advantages and applications for logistics/SCM researchers and practitioners. ACM has not been used in a logistics/SCM context.

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Article
Publication date: 6 June 2016

Keqiang Wang, Hongmei Liu, Wuyang Hu and Linda Cox

Dolphin excursions have become increasingly popular worldwide. Many past studies assessing the value of dolphin excursions use choice-based methods such as the conjoint

Abstract

Purpose

Dolphin excursions have become increasingly popular worldwide. Many past studies assessing the value of dolphin excursions use choice-based methods such as the conjoint analysis. However, this method is often criticized as being hypothetical. The purpose of this paper is to describe a relatively low cost but effective approach to enhance understanding of consumer preference obtained by conjoint analysis. The method relies heavily on using internet-based survey tools.

Design/methodology/approach

Enabled by an online tool, individuals are asked to self-explicate their preferred alternatives using the same attributes as are found in the conjoint design. The difference between the self-constructed, preferred alternatives and those offered in conjoint experiment are incorporated into choice models. Unlike previous research where only rough estimates can be provided, the proposed method allows precise capture of respondents’ preferred alternative through the automated online survey design.

Findings

Results show that although the extra effort involved in data collection is small, the gain in model fit, choice interpretation, and the value (welfare) estimation is sizeable. Evidence indicates that consumers would be willing to pay up to $50 more for adventurous excursions and guarantees that they will interact with dolphins could worth up to $70 per trip. The approach presented in this paper can also serve as a method to test for preference consistency.

Originality/value

This study is the first using an online survey to assess values associated with dolphin excursion. It describes the benefit of involving online tools to enhance modeling and interpretation of consumer behavior. Applications of internet-based surveys on household consumer products are abundant (such as food and electronics) but this study offers a much less discussed application in environmental service.

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Internet Research, vol. 26 no. 3
Type: Research Article
ISSN: 1066-2243

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Book part
Publication date: 27 December 2018

Andrew Zacharakis and Dean A. Shepherd

This chapter is a reflection on the Shepherd and Zacharakis (1997) paper, which starts with a review of citations in the intervening 20 years, and dives more deeply into…

Abstract

This chapter is a reflection on the Shepherd and Zacharakis (1997) paper, which starts with a review of citations in the intervening 20 years, and dives more deeply into these works to better describe and consider the evolution and use of conjoint analysis in entrepreneurship research. The proliferation of new uses for a conjoint analysis are identified, such as more studies of entrepreneurial decision making, which came to supplant the early efforts, which focused on venture capital decisions. Additional expansions into other entrepreneurship stakeholder groups are also reviewed. The use of conjoint as an accelerator of multilevel research is also noted, as are the improvements and challenges in conjoint methodologies as the field has matured.

Details

Reflections and Extensions on Key Papers of the First Twenty-Five Years of Advances
Type: Book
ISBN: 978-1-78756-435-0

Keywords

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Article
Publication date: 3 July 2007

Namwoo Kang, Junyoung Kim and Yongtae Park

To solve the trade‐offs between marketing and R&D domains and to minimize information loss in new product development (NPD), this study proposes an integrated design…

Abstract

Purpose

To solve the trade‐offs between marketing and R&D domains and to minimize information loss in new product development (NPD), this study proposes an integrated design process as a new solution to the interface system between the two domains.

Design/methodology/approach

House of Quality integrated with multivariate statistical analysis is used for determining important design features. These design features are used as parameters for conjoint analysis and Taguchi method, and then the results of analyses are compared. Sequential application of conjoint analysis and Taguchi method, depending on the differences in utilities and signal to noise ratios, is applied for the integrated design process. An automotive interior design is illustrated for the validation of the integrated design process.

Findings

The integrated design process determines a point of compromise between the optimums of conjoint analysis and Taguchi method. Sequential application of two methods ensures full utilization of both methods and no loss of information.

Research limitations/implications

More illustrations on NPD are needed to verify the proposed process.

Practical implications

The design process suggested in this study can be used for process innovation in six sigma approach and be integrated with value chain intelligently. This study proposes the strategic guideline of the integrated design process for enterprises.

Originality/value

The integrated design process suggests the solution for the trade‐offs between marketing domain that pursues the utility of product and R&D domain that emphasizes robustness of product quality. This integrated design process will give enterprises competitive advantages in NPD.

Details

Industrial Management & Data Systems, vol. 107 no. 6
Type: Research Article
ISSN: 0263-5577

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Article
Publication date: 20 April 2015

Dennis Castel and Hiroshi Tsuji

The purpose of this paper is to presents an interactive conjoint analysis Web-based system that allows the problems of traditional conjoint analysis to be avoided.In the…

Abstract

Purpose

The purpose of this paper is to presents an interactive conjoint analysis Web-based system that allows the problems of traditional conjoint analysis to be avoided.In the case of a product with lot of parameters, respondents’ tacit preferences may be difficult to understand for marketing analysis. To get a precise analysis, respondents must be allowed to reconsider and correct by themselves their evaluations with an adapted tool.

Design/methodology/approach

This system also helps respondents to easily evaluate complex product profiles and to be involved in the evaluation process, which also leads to the creation of new knowledge for product design. As this system is designed for marketers and for respondents, this paper also presents the case of a product evaluation with attributes selectable by respondents.

Findings

This paper is based on empirical experiment to obtain an efficient design of our system. The authors propose different evaluation scenario to usersto decide the design of our system. The authors want to include users in our evaluation process; however, we found that too much liberty for users can interfere with our objective.

Originality/value

This paper present the design of our original system allowing to perform interactive conjoint analysis.

Details

International Journal of Web Information Systems, vol. 11 no. 1
Type: Research Article
ISSN: 1744-0084

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Article
Publication date: 1 October 2006

Antonia Hermelbracht and Bettina Koeper

The purpose of this article is to provide a description of the project ProSeBiCA, carried out in order to adapt the marketing research tool conjoint analysis for the…

Abstract

Purpose

The purpose of this article is to provide a description of the project ProSeBiCA, carried out in order to adapt the marketing research tool conjoint analysis for the development of future library services. The paper describes the methodical approach, and provides an overview of the results gained by several user surveys.

Design/methodology/approach

The methodical approach includes the use of adaptive conjoint analysis (ACA) and choice‐based conjoint analysis (CBC).

Findings

Conjoint analysis is an appropriate tool for the strategic development of library services. It provides detailed results by identifying users' preferences towards concrete services, and allows to deduce general statements about future trends for library services.

Research limitations/implications

Future plans include cooperation with the Sheridan Libraries at Johns Hopkins University (Baltimore, Maryland), the Association of Research Libraries (ARL), and other interested partners in order to adapt the ProSeBiCA framework for US libraries and to integrate techniques used by the partners (CAPM, LibQUAL+TM). The extension of conjoint analysis to the evaluation of services for a fee will be an additional area of research.

Practical implications

Service orientation in libraries can be based on a systematic approach. Depending on local circumstances, interested libraries can improve their service orientation in different ways, either by discussing the results of the analysis made in this project or by using the Conjoint Analysis questionnaire for a survey in their institutions.

Originality/value

The paper describes the current status and provides the latest results of ProSeBiCA. It is of interest to library managers and marketing researchers.

Details

Library Hi Tech, vol. 24 no. 4
Type: Research Article
ISSN: 0737-8831

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