Measuring Customers' Willingness to Pay Accurately: Generalizations from a Meta-Analysis
Grunddaten zum Vortrag
Art des Vortrags: wissenschaftlicher Vortrag
Name der Vortragenden: Schmidt, Jonas
Datum des Vortrags: 05.06.2018
Vortragssprache: Englisch
Informationen zur Veranstaltung
Name der Veranstaltung: BI-JAMS Thought Leaders' Conference 2018
Zeitraum der Veranstaltung: 03.06.2018 - 05.06.2018
Ort der Veranstaltung: BI Norwegian Business School, Oslo, Norway
Webseite der Veranstaltung: https://www.bi.edu/research/find-departments-and-research-centres/departments/department-of-marketing/bi-jams-thought-leaders-conference-2018/
Zusammenfassung
Measuring customers' willingness to pay (WTP) accurately is crucial for companies to implement an optimal pricing strategy. However, companies often times struggle when measuring WTP. Especially, the decision whether to use direct (e.g. open-ended question format) or indirect approaches (e.g. conjoint analysis) remains uncertain, since contradictory evidence regarding their accuracy and recommendations for use exist. Academics mostly attribute indirect approaches a higher accuracy, as these methods are similar to real buying decisions. Practitioners however use direct approaches more often due to their practicability. Therefore, we synthesize research that validates hypothetical direct or indirect WTP measurements externally by collecting customers' real WTP. As the dependent variable, we choose the standardized hypothetical bias (HB), defined as hypothetical WTP minus real WTP. Additionally, we consider factors related to research design and research subject as moderators. Preliminary results show that direct approaches measure WTP more accurately than indirect approaches. Final results on the moderator analysis will be presented.Vortragende der Universität Münster
| Schmidt, Jonas | Professur für Marketing (Prof. Krafft) |