Consumption Preference Analysis Based On Discrete Choice Model

The competitive power of the product has been the main factor determining the core competitiveness of the enterprise.The buyer's market,which is gradually formed because of the rapid development of productivity,has brought many opportunities to the enterprise,but it also brings great challenges to the enterprises-the production of high quality products to meet the needs of consumers.According to the consumer's selection behavior,studying the consumption preference,fully understand the consumption demand and the consumption psychology,to instruct the product design and improve the competitiveness of the products,to grasp the target consumer group,to achieve the long-term competitive advantage and the better market return.The Discrete Choice Model is a very effective and practical market research technology.The model allows consumers to choose no products to buy,and can more truly simulate the process of consumer purchase.This paper first introduces the theoretical research trends of the model and the application of the model in the field of market research;then it introduces the basic knowledge of the model in detail,and shows the operation steps of applying the Discrete Choice Model to study the consumption preference and the related theoretical knowledge and methods.Finally,taking the HYUNDAI CF Car as the empirical research object,using the Discrete Choice Model from the consumer perspective to study the consumption preference.Determine the main factors that affect the choice of consumers' car purchase and carry out sample recovery in 4 cities.By simulating real car buying scenes with research models and other competing models,collect the selection behavior data of consumers.Analysis by Counting Choices is used to analyze the relative importance of attributes.Multinomial Logit Model is used to estimate the utility value of different attribute levels to consumers.The study found that among the 6 factors,consumers first consider the brand model and then the price.The HYUNDAI CF Car has a certain brand advantage in the 6 selected brand models.In addition,the consumers are obvious to the HYUNDAI CF Car,automatic block,1.6T turbocharging,panoramic skylight and leather seat.Consumers show a significant consumption preference to these levels of attributes.In the 6 same class models,the HYUNDAI CF Car has a relatively higher competitive power.For the HYUNDAI CF Car with a specific attribute level combination,150 thousand is a sales oriented pricing point and 165 thousand is a profit oriented pricing point.Enterprises can refer to different pricing points according to actual target needs.The research in this paper can help the enterprise manager to understand that the Discrete Choice Model can effectively study the consumption preference,and the study of consumption preference has a strong economic significance and important application value for the enterprises,and helps enterprises to find market opportunities in the competitive environment and better cope with the new development of the market.