Carina is currently studying in her Master’s at the Friedrich-Alexander-University in Nuremberg, Germany. After having studied economics in her Bachelor’s degree, she decided to specialize in Marketing for her Master’s. She will finish her studies with the Master’s thesis, which is dealing with predictive validity of Conjoint Analysis.
Nowadays, there is an enormous excess supply in the market place and consumers are free to choose between a great range of product offerings. Therefore, price plays an important role in buying decisions and companies should be very careful trying to set the right price for their product. If they set prices too high, consumers will buy competitive products, if the price is too low, the company faces a big loss concerning profit. Therefore, predicting the price customers are actually willing to pay becomes more and more important.
Carina’s Master Thesis is dealing with how to predict how much customers are willing to pay for certain products and how well this willingness to pay can be predicted by Choice Based Conjoint Analysis. For her Thesis, she will conduct an experiment about willingness to pay for cider and check, if respondents really keep their word when they get the chance to physically buy the product.