What drives researcher preferences for chemical compounds? Evidence from conjoint analysis

We investigated the attributes and attribute levels that affect researcher preferences for chemical compounds. We conducted a conjoint analysis on survey data of Korean researchers using chemical compounds from the Korean Chemical Bank (KCB). The analysis estimated the part-worth utility for each attribute's level, calculated relative importance of attributes, and classified user segmentation with different patterns. The results show that the structure database offers the highest part-worth utility to researchers, followed by high new functionality, price, screening service, and drug action data provided only by the KCB. Notably, researchers view the offer of a structured database and high new functionality as more important than other attributes in decision-making about research and development of chemical compounds. Furthermore, the results of segmentation analysis demonstrated that researchers have distinct usage patterns of chemical compounds: researchers consider structure database and high new functionality in cluster 1; and high new functionality and price in cluster 2, to be the most appealing. We discussed some policy and strategic implications based on the findings of this study and proposed some limitations.