Consideration Sets in Conjoint Analysis

Journal of Marketing Research, Vol. 33, No. 3, pp. 364-372

10 Pages Posted: 8 Jun 2016

See all articles by Kamel Jedidi

Kamel Jedidi

Columbia Business School - Marketing

Rajeev Kohli

Columbia Business School - Marketing

Wayne S. DeSarbo

Pennsylvania State University

Date Written: August 1996

Abstract

The authors model product consideration as preceding choice in a segment-level conjoint model. They propose a latent-class tobit model to estimate cardinal, segment-level preference functions based on consumers' preference ratings for product concepts considered worth adding to consumers' self-explicated consideration sets. The probability with which the utility of a product profile exceeds an unobserved threshold corresponds to its consideration probability, which is assumed to be independent across product profiles and common to consumers in a segment. A market-share simulation compares the predictions of the proposed model with those obtained from an individual-level tobit model and from traditional ratings-based conjoint analysis. The authors also report simulations that assess the robustness of the proposed estimation procedure, which uses an E-M algorithm to obtain maximum likelihood parameter estimates.

Suggested Citation

Jedidi, Kamel and Kohli, Rajeev and DeSarbo, Wayne S., Consideration Sets in Conjoint Analysis (August 1996). Journal of Marketing Research, Vol. 33, No. 3, pp. 364-372. Available at SSRN: https://ssrn.com/abstract=2791182

Kamel Jedidi

Columbia Business School - Marketing ( email )

New York, NY 10027
United States

Rajeev Kohli

Columbia Business School - Marketing ( email )

New York, NY 10027
United States

Wayne S. DeSarbo (Contact Author)

Pennsylvania State University ( email )

University Park
State College, PA 16802
United States

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