Concomitant Variable Latent Class Models for Conjoint Analysis

Kamakura, Wagner A., Wedel, Michel and Agrawal, Jagdish, Concomitant Variable Latent Class Models for Conjoint Analysis, International Journal of Research in Marketing, 11 (1994)

Robert H. Smith School Research Paper No. RHS 2424863

14 Pages Posted: 14 Apr 2014

See all articles by Wagner A. Kamakura

Wagner A. Kamakura

Rice University

Michel Wedel

University of Maryland - Robert H. Smith School of Business, Marketing Department; University of Groningen - Faculty of Economics and Business

Jagdish Agrawal

California State University, East Bay

Date Written: 1994

Abstract

We propose a unifying framework for benefit and demographic segmentation based on the analysis of rank-order choice data collected in conjoint studies. The model identifies a number of unobserved segments, estimates the conjoint model within each segment, and at the same time estimates the association of segment membership with concomitant (consumer descriptor) variables. Analyses of synthetic datasets, and an illustrative application of the model to a conjoint analysis study on consumers' preferences for banking services are provided. The analyses of synthetic data support the validity of the concomitant variable latent class model. The validity of the model is also confirmed in an empirical study, where the preference patterns are shown to be logically consistent with the respondents' banking behavior.

Suggested Citation

Kamakura, Wagner A. and Wedel, Michel and Agrawal, Jagdish, Concomitant Variable Latent Class Models for Conjoint Analysis (1994). Kamakura, Wagner A., Wedel, Michel and Agrawal, Jagdish, Concomitant Variable Latent Class Models for Conjoint Analysis, International Journal of Research in Marketing, 11 (1994); Robert H. Smith School Research Paper No. RHS 2424863. Available at SSRN: https://ssrn.com/abstract=2424863

Wagner A. Kamakura (Contact Author)

Rice University ( email )

6100 South Main Street
P.O. Box 1892
Houston, TX 77005-1892
United States
(713) 348-6307 (Phone)

Michel Wedel

University of Maryland - Robert H. Smith School of Business, Marketing Department ( email )

College Park, MD 20742
United States
301.405.2162 (Phone)
301.405.0146 (Fax)

HOME PAGE: http://www.rhsmith.umd.edu/marketing/faculty/wedel.html

University of Groningen - Faculty of Economics and Business ( email )

Postbus 72
9700 AB Groningen
Netherlands

Jagdish Agrawal

California State University, East Bay ( email )

25800 Carlos Bee Boulevard
Hayward, CA California 94542
United States

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