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ucin1146808499.pdf (969.79 KB)
ETD Abstract Container
Abstract Header
AN EXACT ALGORITHM FOR THE SHARE-OF-CHOICE PROBLEM
Author Info
KANNAN, SRIRAM
Permalink:
http://rave.ohiolink.edu/etdc/view?acc_num=ucin1146808499
Abstract Details
Year and Degree
2006, PhD, University of Cincinnati, Business Administration : Quantitative Analysis.
Abstract
Products and services can be thought of as bundles of attributes that are each made up of many levels. Consumers consider tradeoffs between various attributes and levels before making a purchase decision for a product. A popular marketing research technique called conjoint analysis is used to study these tradeoffs. The data on consumer preferences is generally decomposed using a regression procedure into utility values that the consumer associates with each level of every attribute. In the design of a new product, it is critical to determine a judicious combination of attribute levels that is likely to perform well in a market containing competitor products. Using these utility measures, a firm can design products that would best meet consumer expectations and the seller’s objectives. A popular way to measure the success of a new product is to calculate the amount of market share it is expected to capture in a competitive market. Researchers have proposed the share-of-choice problem whose objective is to maximize the number of respondents from a conjoint study who prefer a new product to their status-quo products. The share-of-choice problem is NP-hard. The linear-programming based branch-and-bound algorithm is inefficient in solving real world instances of the share-of-choice problem. Several heuristic procedures to solve the share-of-choice problem have appeared in the literature. In this research, an exact algorithm is proposed to solve real world instances of the share-of-choice problem to optimality. An experiment is designed to test the run-time performance of the exact algorithm using a set of simulated problems that mimic real world problem characteristics. We also suggest potential extensions of the exact algorithm to solve modified versions of the share-of-choice problem, and also to solve the related product line design problem.
Committee
Dr. Jeffrey Camm (Advisor)
Pages
274 p.
Subject Headings
Operations Research
Keywords
Product Design
;
Conjoint Optimization
;
Binary Integer Programming
;
Constraint Aggregation
;
Share of Choice Problem
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Citations
KANNAN, S. (2006).
AN EXACT ALGORITHM FOR THE SHARE-OF-CHOICE PROBLEM
[Doctoral dissertation, University of Cincinnati]. OhioLINK Electronic Theses and Dissertations Center. http://rave.ohiolink.edu/etdc/view?acc_num=ucin1146808499
APA Style (7th edition)
KANNAN, SRIRAM.
AN EXACT ALGORITHM FOR THE SHARE-OF-CHOICE PROBLEM.
2006. University of Cincinnati, Doctoral dissertation.
OhioLINK Electronic Theses and Dissertations Center
, http://rave.ohiolink.edu/etdc/view?acc_num=ucin1146808499.
MLA Style (8th edition)
KANNAN, SRIRAM. "AN EXACT ALGORITHM FOR THE SHARE-OF-CHOICE PROBLEM." Doctoral dissertation, University of Cincinnati, 2006. http://rave.ohiolink.edu/etdc/view?acc_num=ucin1146808499
Chicago Manual of Style (17th edition)
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Document number:
ucin1146808499
Download Count:
1,785
Copyright Info
© 2006, all rights reserved.
This open access ETD is published by University of Cincinnati and OhioLINK.