Doreen HedergottBewertung der Methoden zur Ermittlung der Zahlungsbereitschaft

About this book deutschenglish

Measuring the willingness to pay (WTP) is crucial to a rational and customer-oriented pricing strategy. Since the WTP is not directly observable and thus represents a latent construct, it becomes often difficult to measure, especially as there are a plethora of methods to use.

The objective of this thesis is to compile a comprehensive classification of almost fifty methods to measure WTP. First, this dissertation will focus on “traditional” approaches such as market data, panel/scanner data, test markets and simulations, brand-price-trade-off, closed as well as open-ended approaches, bidding games, price-sensitivity-measurement, a variety of self-explicated methods, and additional procedures based on bids, i.e. several types of auctions, demand collection systems and lotteries. Second, conjoint analysis will be taken into account, while considering its various modifications; more specifically, these include bridging, hierarchical, individualized, MaiK and customized (computerized) conjoint analysis, different hybrid and/or adaptive methods as well as some variants of limit conjoint analysis. Third, methods and modifications of discrete choice analysis will be evaluated. Some of these are partial profile, hybrid individualized two-level, adaptive, tournament-augmented, incentive-aligned choice-based conjoint analysis, as well as Golden-i and choice-oriented individualized conjoint analysis.

They were analyzed while using twelve evaluation criteria which were developed to cover relevant aspects of quality, feasibility, and methodical requirements. One main result is the identification of dominant methods, sharply reducing the complexity of deciding on the various alternative methods. To differentiate these dominant methods in terms of their suitability to measure the WTP and to assess their advantages and disadvantages, six distinctive (homogenous and among each other heterogeneous) clusters emerged with the help of multivariate analyses aiming for dimensional reduction and classification. Moreover, another essential result is the characteristic structuring of the dominant methods. In other words, their details are compared, contrasted and visualized, strengths and weaknesses weighed, trade-offs emphasized, fundamental components or modules identified, and theoretical as well as practical implications discussed. In addition to further recommendations when it comes to addressing certain methods, there are suggestions for adapting to individual questions. Restrictions and limits are critically reflected and finally open questions and further research needs are referred to.

This thesis contributes to existing research by providing both a comprehensive and thorough analysis of a plethora of methods, as well as a broad range of applying criteria. This makes this dissertation a valuable contribution towards reducing complexity and the structuring of the decision making process when it comes to deciding on which methods to use when measuring the WTP.

Ihr Werk im Verlag Dr. Kovač

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