Adaptive Choice-Based Conjoint (ACBC)
ACBC effectively supports manufacturers / enterprises in understanding the way that consumers balance factors they concern when purchasing a product / service. From research results, manufacturers / enterprises can apply in developing new product as weel as making decision related to marketing activities. Not as two previous methods (ranking conjoint and discrete choice-based conjoint), ACBC takes out some features which are less prior and keep extremely important ones based on consumers' choices to enhance accuracy of data collection.
1. Develop new product / service
Before launching real product, its concept need to be test whether it is feasible or not. The reason for this test is clarified that most product concepts are developed based on manufacturers / enterprises' subjective hypothesis, so those concepts may not be applicable and they have to spend much more money to do next research projects. To avoid this situation as well as increase acceptance rate of consumers for new product / service, ACBC is the most suitable research method as it allows consumers to build their own product / service based on provided features.
2. Support marketing plan
By assessing priority level of product / service's features, manufacturers / enterprises can understand what important features are and importance level on consumers' purchase decision. From those results, they can develop strategic plans related to price, promotion, package,etc. to attract and build potential consumers.
- Take out some unnecessary features based on consumers' choices to help them easier in choosing
- Enhance accuracy of data collection from surveys.
- Can add more features than other methods such as Ranking or Discrete Choice-Based Conjoint.
1. Website development
2. Software applications
3. Banking services
4. Hotel & Restaurant services
6. Internet banking
1. Select attributes
3. Final decision