Relatively new to CBC and still learning. What is the practical difference between Share of Preference and Purchase Likelihood?
If I run a simulation with three products, with SoP of 30/25/45 respectively, I can say "given these three products, 45% of customers are likely to choose the third option," right?
Could I say that the purchase likelihood of that third product is also 45%? Is that an oversimplification?
In this particular example we did not ask a purchase likelihood yes/no question.
Thanks for the support