iChoose - What Customers Really Want: Customer Choice Modeling Applied to the Road User Charging Marketplace with Parallels to the Mobile Phone Marketplace

This paper explains the benefits of choice modeling methodology with the results of a recently conducted Booz & Company study that included more than 1800 consumers in the United States. The study provided insights to service providers of transport services and mobile phone manufacturers on how to best approach consumers and gain market share. The authors stress that managers must have a clear understanding of their customers' needs and their firm's capabilities to increase revenue within the constraints of sustainability and profitability. While evaluating various possible market alternatives, managers typically refrain from implementing revolutionary changes in their product or service offering; instead, they engage in evolutionary, often incremental, market moves. Choice modeling is a powerful tool to understand customers choices and can provide the basis to make stronger, proactive business choices. The authors draw connections from their study to the use of choice modeling in the electronic toll collection (ETC) business model. They conclude that choice modeling is ideally suited to analyze the most complex consumer decision processes and yields valuable insights for demand-driven strategy development by revealing customer value segmentation maps, measuring market share impact of new product-service combinations, and assessing overall brand equity in the context of identifiable switching barriers.

Language

  • English

Media Info

  • Media Type: CD-ROM
  • Features: Figures; References;
  • Pagination: 10p
  • Monograph Title: ITS Connections: Saving Time. Saving Lives

Subject/Index Terms

Filing Info

  • Accession Number: 01142556
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Oct 24 2009 7:00AM