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Gabor–Granger Method
The Gabor–Granger method is a method to determine the price for a new product or service. It was developed in the 1960s by Clive Granger and André Gabor. It is a variant of monadic price testing. To use the Gabor-Granger method in a survey, one must find the highest price that respondents are willing to pay. There are many ways to do this but the most common is usually done by choosing 5 price points for the survey and then asking the respondent a 5-point purchase intent question for a random price from those 5 established price points. If the respondent answers in the top 2 choices - 'Definitely Buy' or 'Probably Buy' for this question, they are then asked the same question for a random price that is higher than was just asked. If it is not in the top 2 then the respondent is asked the same question for a random lower price. This is done until you find the highest price the respondent is in top 2 on Purchase Intent Scale. If they are not in top 2 for the lowest of the 5 pri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clive Granger
Sir Clive William John Granger (; 4 September 1934 – 27 May 2009) was a British econometrician known for his contributions to nonlinear time series analysis. He taught in Britain, at the University of Nottingham and in the United States, at the University of California, San Diego. Granger was awarded the Nobel Memorial Prize in Economic Sciences in 2003 in recognition of the contributions that he and his co-winner, Robert F. Engle, had made to the analysis of time series data. This work fundamentally changed the way in which economists analyse financial and macroeconomic data. Biography Early life Clive Granger was born in 1934 in Swansea, south Wales, United Kingdom, to Edward John Granger and Evelyn Granger. The next year his parents moved to Lincoln. During World War II Granger and his mother moved to Cambridge because Edward joined the Royal Air Force and deployed to North Africa. Here they stayed first with Evelyn's mother, then later Edward's parents, while Clive beg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
André Gabor
André — sometimes transliterated as Andre — is the French and Portuguese form of the name Andrew and is now also used in the English-speaking world. It used in France, Quebec, Canada and other French-speaking countries, as well in Portugal, Brazil and other Portuguese-speaking countries. It is a variation of the Greek name ''Andreas'', a short form of any of various compound names derived from ''andr-'' 'man, warrior'. The name is popular in Norway and Sweden. Cognate names Cognate names are: * Bulgarian: Andrei, |
Conjoint Analysis (marketing)
Conjoint analysis is a survey-based statistical technique used in market research that helps determine how people value different attributes (feature, function, benefits) that make up an individual product or service. The objective of conjoint analysis is to determine the influence of a set of attributes on respondent choice or decision making. In a conjoint experiment, a controlled set of potential products or services, broken down by attribute, is shown to survey respondents. By analyzing how respondents choose among the products, the respondents' valuation of the attributes making up the products or services can be determined. These implicit valuations (utilities or part-worths) can be used to create market models that estimate market share, revenue and even profitability of new designs. Conjoint analysis originated in mathematical psychology and was developed by marketing professor Paul E. Green at the Wharton School of the University of Pennsylvania. Other prominent conjoint ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Van Westendorp's Price Sensitivity Meter
The Price Sensitivity Meter (PSM) is a market technique for determining consumer price preferences. It was introduced in 1976 by Dutch economist Peter van Westendorp. The technique has been used by a wide variety of researchers in the market research industry. It historically has been promoted by many professional market research associations in their training and professional development programs. Assumptions The assumption underlying PSM is that respondents are capable of envisioning a pricing landscape and that price is an intrinsic measure of value or utility. Participants in a PSM exercise are asked to identify price points at which they can infer a particular value to the product or service under study. PSM claims to capture the extent to which a product has an inherent value denoted by price. Approach The traditional PSM approach asks four price-related questions, which are then evaluated as a series of four cumulative distributions, one distribution for each question. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resource Economics
Natural resource economics deals with the Supply (economics), supply, Demand (economics), demand, and Resource allocation, allocation of the Earth's natural resources. One main objective of natural resource economics is to better understand the role of natural resources in the economy in order to develop more Sustainability, sustainable methods of managing those resources to ensure their availability for future generations. Resource economists study interactions between economic and natural systems, with the goal of developing a sustainable and efficient economy. Areas of discussion Natural resource economics is a transdisciplinary field of academic research within economics that aims to address the connections and interdependence between human economies and natural ecosystems. Its focus is how to operate an economy within the ecological constraints of earth's natural resources.Encyclopedia of EarthArticle Topic: ecological economics/ref> Resource economics brings together and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
