Discrete Choice Modeling for Product Design
An advanced analytic technique known as DCM (Discrete Choice Modeling) assesses consumers’ interest in product configurations by replicating varying competitive contexts. For CareFirst BlueCross BlueShield, WBA employed DCM online in a web survey targeting both insurance consumers and companies offering insurance.
In addition to discovering the importance of product attributes and features, the research also provided valuable insights in the following areas:
- Demographic profiles of targeted consumers and accounts;
- Prevalence and perceptions of health insurance carriers and products in the current marketplace;
- Satisfaction with carriers and products currently being used or offered; and
- Preferred name of the proposed product design
Along with the findings report, WBA delivered an interactive simulator—plus a training session on its use—that allowed the client to model potential product designs and test them against subpopulations based on demographic attributes.
- Discrete Choice Modeling
- Delivered via web
- Subjects recruited by telephone/web panel
- Interactive simulator creating
- Training in use of simulator