Preference information-based metrics
View Patent ↗A system to determine metrics based on preference information. The metrics may be presented to a client in several forms and may include at least one of: impact of change in attribute on change in share; impact of change in attribute on share; impact of change in attribute on change in normalized utility; willingness to pay; relation of price and share, given a change in an attribute; gap analysis; gap with competition; unacceptable attribute levels; vulnerability; clout; brand favorability; brand vulnerability; and change in margin due to acceptable change in comparison product.
1. A method for processing preference information, comprising:
determining one or more acceptable changes, each acceptable change corresponding to an attribute of a comparison product;
determining a utility of a price of the comparison product based on the preference information;
determining a utility of one attribute of the comparison product based on the preference information;
determining a utility of the one attribute as changed according to one of the one or more acceptable changes based on the preference information;
determining a utility of a price of the comparison product as changed according to the one acceptable change based on the preference information;
determining a price of the comparison product as changed according to the one acceptable change based on the determined utility of the price of the comparison product as changed according to the one or more acceptable changes; and
determining an amount willing to be paid, by subtracting the determined price of the comparison product as changed according to the one acceptable change from the price of the comparison product, by a respondent for one or more of the one or more acceptable changes based on preference information associated with the respondent.
2. A method according to claim 1 , and further including the steps of:
determining an individual amount willing to be paid by each of a plurality of respondents for the one or more of the one or more acceptable changes based on preference information associated with the plurality of respondents; and
determining the amount willing to be paid based on a plurality of the individual amounts willing to be paid.
3. A method according to 2 , further comprising:
presenting an indication of a statistical difference between each of the individual amounts willing to be paid.
4. A method according to claim 3 , further comprising:
presenting the indication only if the statistical difference exceeds a predetermined value.
5. A method according to claims 1 or 2 , further comprising:
presenting the amount willing to be paid for the one or more of the one or more acceptable changes.
6. A method according to claims 1 or 2 , wherein the one or more acceptable changes comprise a plurality of acceptable changes in an attribute, and further comprising:
determining the change in the amount willing to be paid for each of the plurality of acceptable changes as compared to the amount willing to be paid for the comparison product without each of the plurality of acceptable changes.
7. A method according to claim 6 , further comprising:
presenting, for each of the plurality of acceptable changes in the attribute, a percentage of respondents for whom an acceptable change reflects an unacceptable attribute level.
8. A method according to claims 1 or 2 , further comprising:
presenting the amount willing to be paid and a cost of the one or more of the one or more acceptable changes.
9. A method according to claim 8 , further comprising:
presenting a market price of the one or more of the one or more acceptable changes.
10. A method for processing preference information, comprising:
determining one or more attribute levels of a comparison product;
determining one or more acceptable changes, each of the acceptable changes corresponding to one of the determined one or more attribute levels;
determining a cost of the one or more acceptable changes;
determining a willingness to pay for the one or more acceptable changes based on preference information associated with a respondent;
determining a first value in a case that the comparison product is changed according to only one change to an attribute, based on a cost of the one change and on a willingness to pay for the one change;
determining a second value in a case that the comparison product is changed according to only a second change to the attribute, based on a cost of the second change and on a willingness to pay for the second change; and
presenting the first value and the second value;
whereby using the first value and the second value to determine a change in margin.
11. A method according to claim 10 , wherein each of the willingness to pay is an aggregate willingness to pay determined based on preference information associated with a plurality of respondents.
12. A method according to claim 10 , further comprising:
determining a willingness to pay for the one or more acceptable changes for each of a plurality of respondents based on preference information associated with each of the plurality of respondents; and
determining a value, for each of the plurality of respondents, representing a change in margin in a case that the comparison product is changed according to the one or more acceptable changes, based at least in part on the cost and the willingness to pay determined for each respondent.
13. A method according to claim 12 , further comprising:
determining a percentage or a number of the plurality of respondents that are associated with values within each of a plurality of ranges of values.
14. An apparatus for processing preference information, comprising:
a processor; and
a storage device in communication with the processor and storing instructions adapted to be executed by the processor to:
determine one or more acceptable changes, each acceptable change corresponding to an attribute of a comparison product;
determine a utility of a price of the comparison product based on the preference information;
determine a utility of one attribute of the comparison product based on the preference information;
determine a utility of the one attribute as changed according to one of the one or more acceptable changes based on the preference information;
determine a utility of a price of the comparison product as changed according to the one acceptable change based on the preference information;
determine a price of the comparison product as changed according to the one acceptable change based on the determined utility of the price of the comparison product as changed according to the one or more acceptable changes; and
determine an amount willing to be paid, by subtracting the price of the determined comparison product as changed according to the one acceptable change from the price of the comparison product, by a respondent for one or more of the one or more acceptable changes based on preference information associated with the respondent.
15. An apparatus for processing preference information, comprising:
a processor; and
a storage device in communication with the processor and storing instructions adapted to be executed by the processor to:
determine one or more attribute levels of a comparison product;
determine one or more acceptable changes, each of the acceptable changes corresponding to one of the determined one or more attribute levels;
determine a cost of the one or more acceptable changes;
determine a willingness to pay for the one or more acceptable changes based on preference information associated with a respondent;
determine a first value in a case that the comparison product is changed according to only one change to an attribute, based on a cost of the one change and on a willingness to pay for the one change;
determine a second value in a case that the comparison product is changed according to only a second change to the attribute, based on a cost of the second change and on a willingness to pay for the second change; and
presenting the first value and the second value whereby using said first value and said second value to determine a change in margin.