Combines market research and simulation into a single technique.  Marketing scientists use choice modeling to gain greater understanding of what drives customers to purchase certain products.  The technique itself was introduced in the 1970s by Daniel L. McFadden (University of California, Berkeley) who won a Nobel Prize for this work.  CM is used to determine the optimal price and/or feature set to maximize profits, contribution margin, and/or market share.  In-depth analysis of the data collected can also be used to understand how you can build more sustainable advantage into your product or service offering.