Abstract:

We are operating in a world where the credibility of online research quality is under attack. There is a global ISO initiative on Online Quality Research. We have recognized that a quality sample is only part of providing credible and valid data. Research design and weighting of data are critical factors too! This paper focuses on a nation-wide fast food menu price optimization study, resulting in a real market cost model to optimize bottom line. We demonstrate the benefits of using on-line panels as a data collection method for modeling consumer choice via discrete choice methods and optimal experimental designs, and the most appropriate method of weighting this data.