Conjoint Analysis

What is Conjoint Analysis? ,[object Object],[object Object]

Managerial uses of Conjoint Analysis ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Commercial Applications ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

A Survey ,[object Object],[object Object],[object Object]

P&G and Disposable Diapers ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Steps in CA ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Preferences for Sports Cars ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Selecting the stimulus set of profiles ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Steps in the analysis ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Interpreting the Coefficients or PART WORTHS 18K 17K 16K Sun Manual Auto No ABS ABS PRICE CONVERTIBLE BRAKING UTILITIES UTILITIES UTILITIES 30 40 10 40 20

Simulating aggregate choices ,[object Object],Translating Utilities into Choice Predictions First Choice Rule Highest utility profile chosen by each respondent Share of Preference Rule Predict choice probabilities using a model such as Logit Both methods ignore marketing variables such as advertising weight and distribution which are typically not in the conjoint design. Fix: “Adjust” the market shares using this additional information

Using CA for segmentation Two-Stage Approaches A priori Researcher selects specific attributes Post hoc Full set of attributes used Clustering (K-means) Relate clusters to background variables such as demographics using techniques like discriminant analysis One-Stage Approach Concomitant variable Latent Class Conjoint Simultaneous clustering and profiling using background characteristics

CA with large numbers of attributes ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Choice Based Conjoint ,[object Object],[object Object],[object Object],[object Object]

Conjoint Analysis

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