More Isn’t Always Better: A Practical Solution to the “Frequency Knowledge” Effect
Hypothesis Chief Methodologist, Mauricio Ferreira, to present at 39th Annual INFORMS Marketing Science (ISMS) Conference at USC (June 7-10, 2017)
May 22, 2017
Los Angeles, CA - Discrete Choice, along with other trade-off techniques, are sophisticated modelling approaches used to guide product bundling, feature optimization, pricing, market sizing, and decisions. In a Choice study, the relative importance of different features or attributes are determined on the basis of a consumer’s pattern of choices when presented with different combinations of options within a survey.
However, researchers have identified a phenomenon called “the Frequency Knowledge" effect, suggesting that consumers assume, almost unconsciously, that “more is better.” For example, consumers sometimes will choose a vehicle with more options simply because it has more, even if some of those options are considered less desirable in isolation.
To address this effect, Hypothesis Chief Methodologist, Dr. Mauricio Ferreira, and the BrainTrust explored the Frequency Knowledge effect and developed innovative Discrete Choice designs to control for this undesired bias. In his presentation at the ISMS, Dr. Ferreira will discuss the Knowledge Frequency effect, and he’ll present his team’s practical solution that effectively controls for this effect, which ultimately leads to more reliable, actionable insights.
Hypothesis congratulates Mauricio and the entire BrainTrust team for this accomplishment (speakers submitted abstracts in a competitive selection process), and for continuing to innovative marketing science techniques and best practices.
You can learn more about the conference and presentation using the links below:
For inquiries, please contact Dr. Ferreira at firstname.lastname@example.org.