What is in a Price? Estimating Willingness-to-Pay with Bayesian Hierarchical Models
价格包含什么?利用贝叶斯层级模型估计支付意愿
For premium consumer products, pricing strategy is not about a single number, but about understanding the perceived monetary value of the features that justify a higher cost. This paper proposes a robust methodology to deconstruct a product's price into the tangible value of its constituent parts. We employ Bayesian Hierarchical Conjoint Analysis, a sophisticated statistical technique, to solve this high-stakes business problem using the Apple iPhone as a universally…