Application of Price Ladder and PSM Methods instead of Conjoint Analysis for Complex Products Optimization (using the Example of the Insurance Market)

Student: Smirnova Anastasiia

Supervisor: Mark Shaphir

Educational Programme: Sociology (Bachelor)

Year of Graduation: 2019

The aim of this study is to develop an alternative approach to studying the insurance clients’ needs. In this case, it is supposed to develop and test an optimal, less labor-intensive and resource-intensive methodology, which will allow obtaining detailed information about tested products (not only in terms of cost). This goal is achieved by conducting an online survey (CAWI) with the long-distance panel of respondents assistance. The survey uses a complex questionnaire, including repeated use of both methods (PSM and GG). The research sample consists of actual and potential insurance companies’ clients from different cities of the Russian Federation. At the end, the study focuses on the limitations, advantages and disadvantages of the described methodology.

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