...TUTORIAL – CONJOINT Overview * Conjoint Analysis é uma abordagem para medir a preferência dos clientes, é utilizado também para analisar e prever as respostas dos clientes a novos produtos ou a novos recursos de produtos já existentes * As empresas podem decompor as preferências dos clientes para produtos e serviços num “partworth” de utilidades associando cada opção de cada atributo ou recurso da categoria de produto * Empresas podem prever as preferências dos clientes para qualquer combinação de atributos, podem determinar o conceito ótimo de produto e, podem identificar segmentos de mercado que avaliam bem determinados conceitos de produto * Conjoint Analysis também respondem questões como: * Quanto a mais os clientes estão dispostos a pagar por uma garantia estendida; * Quais fatores guiam as escolhas dos clientes; * Se for necessário realizar uma escolha de dois recursos diferentes para se colocar em um produto, qual recurso teria maior impacto na escolha do cliente; * Quantos clientes são sensíveis a preço e quantos são guiados pela qualidade; Step 1 – Creating a study design template * A primeira pergunta a ser feita é: quais recursos e características os produtos sendo estudados descrevem? * Opções: * Assistente interativo – para os não experts * Não usar o assistente interativo – para os experts Step 2 – Creating a data collection template * O primeiro passo ao gerar o estudo de design é descrever...
Words: 839 - Pages: 4
...MRKT435 Conjoint Analysis Assignment Learning objective: To practice Conjoint Analysis- an advanced product design technique. Desired output: This is a practice assignment. Answer all three questions below. Your answers should be double spaced. There is no page limit, but be concise and to the point. Due date: 10pm, Monday, Oct 27. Submit to Turnitin. 1. A credit card company conducts a conjoint survey to find out how consumers trade off various aspects of credit card offerings: the brand, annual fee and credit limit. A potential consumer rates each of the following nine credit cards on a 0 to 9-point scale, where 0 means that the offering is really terrible and 9 means that the offering is very excellent. Card #1 Discover $20 annual fee $2,500 credit limit Score: 3 3 | Card #2 MasterCard $20 annual fee $5,000 credit limit Score: 8 8 | Card #3 Visa $10 annual fee $5,000 credit limit Score: 9 9 | Card #4 MasterCard No annual fee $1,000 credit limit Score: 4 4 | Card #5 Discover $10 annual fee $1,000 credit limit Score: 1 1 | Card #6 Discover No annual fee $5,000 credit limit Score: | Card #7 Visa No annual fee $2,500 credit limit Score: 5 5 | Card #8 MasterCard $10 annual fee $2,500 credit limit Score: | Card #9 Visa $20 annual fee $1,000 credit limit Score: 2 2 | a. Utility function: Calculate the utility function of each brand based on the above response. Show how you calculate the utilities to demonstrate...
Words: 1641 - Pages: 7
...Business Research Methods Project On Conjoint Analysis Identifying Key Product Attributes & Product Designing of Mobile Phones Abstract This paper intends to explore consumer preferences for Mobile phones attributes, to determine the optimal combination for consumers, and to provide manufacturers a reference for their marketing strategies. In this study, consumers were divided into several demographics (age, gender, occupation) and individual preferences for various mobile phone attributes were compared. Consumers showed significant demographical difference in their preferences over the combination of mobile phones attributes. The various combination of mobile phone attributes were grouped together. Subjects were asked to rank the 22 product profiles (Pair1 to Pair22) from the most to the least preferred. The variables Pref1 through Pref7 contain the IDs of the associated product profiles, that is, the card IDs. Subject 1, for example, liked pair13 most of all, so PREF1 has the value 13. Analysis of the data is a task that requires the use of command syntax—specifically, the CONJOINT command. The necessary command syntax has been provided in the file conjoint.sps. Literature Review N. Soutar et al. (2008), the study aims to examine its relevance in exploring the trade-offs followers make about leaders. The aim was to have an integrated understanding of leadership. The leaders were assessed on the eight leader attributes obtained from three focus groups...
Words: 3607 - Pages: 15
...Conjoint Analysis 1. Explain the interpretation of the following tables -> (a) Utilities table (highest and lowest utility for each attribute) The preference of Package B* is highest (1.867 Utility value) among all other options for the Package and it is lowest in the case of A* (-2.233 utility value). The preference for K2 brand is highest (0.367 Utility value) and the Glory brand has the lowest value (-0.350 Utility value). The preference for the Price level of $1.19 is the highest (-1.108 Utility value) among all other price options and the price level 1.59 has the lowest value (-3.325 utility value). The preference of Seal to yes is more (4.0 utility value) and the Preference for money as yes is more (2.5 utility value). (b) Importance Values It gives us the relative importance of the factors in percentage. Like for Package the importance value is 35.6%, and is the most important factor. Similarly, Price has the importance of 29.5%, Brand has the importance of 15%, Seal has the importance of 11.7% and money is the least important factor with importance of 8.8% only. (Values are the average importance factor) (c) Coefficients The Linear Regression B Coefficient estimate for Price comes out to be -1.108, Seal comes out to be 2.000 and money comes out to be 1.250, when there coefficients are multiplied with value associated with different options of factors this gives us the utility for the same. When factor value for seal as yes (2) is multiplied...
Words: 524 - Pages: 3
...CHOICE BASED CONJOINT ANALYSIS SUBMISSION: JAYAJIT (JAY) DASH Concept: Pursuant to our Group Project (the evaluation of means to sustain the growth of Bose® - a successful, mature business), this exercise was a multinomial logit simulation: collecting consumer preferences for the objective determination of characteristics for a profit maximizing new-product. Our envisioned product is a modular speaker system from the house of Bose®. These are speakers and amplifiers that one can develop a collection of over time, that operate wirelessly and communicate with each other, that can be used at home (as part of a hi-fi unit), or can be detached and taken as a self-powered wireless companion to a party outdoors. Description of Design: As a group we first defined the attributes that we wanted to understand customer preference around. Some immediate questions were: “What price point?” “Would a classic design aesthetic be preferred over modern, edgy lines?” “How exceptional must sound quality be?” “How important will interoperability and connectivity be for consumers as we increasingly move into an internet-of-things world?” And finally, “Can we get a sense of the kind of names that might resonate better?” From an experimental design perspective, we were conscious that we should rather have more attributes than levels. We get more bang-for-buck this way, as adding levels is multiplicative, but adding factors can be exponential. Accordingly, we zeroed in on 5 attributes (PRICE...
Words: 1549 - Pages: 7
... This article explains the concept of brand equity in a specific industrial marketing setting. Studies do point out cases where price and the hard tangible factors of the physical product do not fully explain the purchase decision. The purpose of this study: To explore the existence of brand equity in a specific business-tobusiness product setting; To investigate the sources of brand equity and its appropriate communication channels; The relative importance of brand relative to other purchase decision criteria. BRAND A brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.” BRAND EQUITY Brand equity is the added value that endowed to products and services. This value may be reflected in how consumers think, feel, and act with respect to the brand, as well as the prices, market share and profitability that the brand commands for the firm. Brand equity is an important intangible asset that has psychological and financial value to the firm. Aaker (1996) Keller (1998) LOYALTY AWARENESS ASSOCIA TIONS BRAND EQUITY PERCEIVED QUALITY AWARE NESS IMAGE BRAND EQUITY The competitive advantage of firms that have brands with high equity include the following: a. A price premium can be attained b. Increased demand by customers c. Brands can be extended easily d...
Words: 1545 - Pages: 7
...Faculty of Business and Economics A comparison of two-stage segmentation methods for choice-based conjoint data: a simulation study Marjolein Crabbe, Bradley Jones and Martina Vandebroek DEPARTMENT OF DECISION SCIENCES AND INFORMATION MANAGEMENT (KBI) KBI 1109 A Comparison of Two-Stage Segmentation Methods for Choice-Based Conjoint Data: A Simulation Study Marjolein Crabbe Bradley Jones Martina Vandebroek Abstract Due to the increasing interest in market segmentation in modern marketing research, several methods for dealing with consumer heterogeneity and for revealing market segments have been described in the literature. In this study, the authors compare eight two-stage segmentation methods that aim to uncover consumer segments by classifying subject-specific indicator values. Four different indicators are used as a segmentation basis. The forces, which are subject-aggregated gradient values of the likelihood function, and the dfbetas, an outlier detection measure, are two indicators that express a subject’s effect on the estimation of the aggregate partworths in the conditional logit model. Although the conditional logit model is generally estimated at the aggregate level, this research obtains individual-level partworth estimates for segmentation purposes. The respondents’ raw choices are the final indicator values. The authors classify the indicators by means of cluster analysis and latent class models. The goal of the study is to compare the segmentation performance...
Words: 12792 - Pages: 52
...the snack category; it has been given a data set of 2,000 shoppers. Base on this data, the report discuss three kind of goals which are does the brand have normal loyalty given its market share, any niche brands in the market and, focus on selling more credits or attracting new customers if the brand is growing. Q3： Description of the conjoint analysis Conjoint analysis is used to measure preferences for product features, to learn how changes to price affect demand for products or services, and to forecast the likely acceptance of a product when it is brought to the market. Therefore, it is widely used in marketing research as a quantitative method. It is means that conjoint analysis can determine the estimate of customers about an individual product or service. With the price changed, the demand of product or service will be changed, to help to manage how changes to price affect demand for products or services. After that, when the product come into the market, It can prospect the acceptance of a product. In this question, it is concerned about the choice probabilities for all eight wine categories to enter the market. According to conjoint analysis, there are three attributes of eight alternatives including brand, region and price to analysis the utilities and market share to determine a best alternative. Firstly, we need to calculate the partworths for well-known region, well-known brand and for a $5 increase in price. We can get the information from the excel data: ...
Words: 1246 - Pages: 5
...die verlede verbruikers se houdings jeens produkte en hul eienskappe gemeet het, is die moontlikheid van die effek van interaksie tussen die attribute oorgesien. In die Suid-Afrikaanse konteks het die literatuurstudie getoon dat daar ‘n behoefte is aan ‘n studie om te bepaal wat die waarde is wat vroulike verbruikers aan sekere produkeienskappe heg voordat aankoopbesluite gefinaliseer word. ‘n Vraelysopname is as primêre data-insamelingsmetode gebruik waartydens die respondente versoek is om aan te toon wat hul voorkeure is vir dertig gepaarde kombinasies van die produk en sy eienskappe. Hierdie studie het op vier eienskappe, naamlik handelsmerk, styl, kleinhandelaar en prys gefokus. Hipoteses is geformuleer en voorkeurkeuse-ontleding (“conjoint analysis”) is vir die ontleding van data gebruik. Die bevindinge toon aan dat daar beduidende verskille is in die waardes wat vroulike verbruikers heg aan die eienskappe van ‘n kledingstuk voordat aankoopbesluite geneem word. INTRODUCTION Although the apparel industry seems to be in the maturity stage and growth is slow, fashion trend cycles are accelerating – nowadays the average successful clothing trend lasts only six to twelve weeks. The presence of more and more brands has created a competitive environment unheard of in the past (Rutter & Edwards, 1999). A major change in today’s society is the expanded role of female consumers as more and...
Words: 6321 - Pages: 26
...transmit one or more MIT Sloan Management Review articles by electronic or mechanical means (including photocopying or archiving in any information storage or retrieval system) requires written permission. To request permission, use our Web site (www.sloanreview.mit.edu), call or e-mail: Toll-free in U.S. and Canada: 877-727-7170 International: 617-253-7170 e-mail: smrpermissions@mit.edu To request a free copy of our article catalog, please contact: MIT Sloan Management Review 77 Massachusetts Ave., E60-100 Cambridge, MA 02139-4307 Toll-free in U.S. and Canada: 877-727-7170 International: 617-253-7170 Fax: 617-258-9739 e-mail: smr-orders@mit.edu How Social-Cause Marketing Affects Consumer Perceptions A market research technique called conjoint analysis can help managers predict what kind of affinity marketing program is likely to offer the best return on investment for their brand. Paul N. Bloom, Steve Hoeffler, Kevin Lane Keller and Carlos E. Basurto Meza H ow should companies determine the best way to allocate marketing dollars between conventional promotional programs and affinity marketing programs? The former simply stress the benefits of buying a specific brand, while the...
Words: 5977 - Pages: 24
...ASSIGNMENT MARKETING MANAGEMENT |CASE |INDIVIDUAL ASSIGNMENT |GROUP ASSIGNMENT | | |(Please select 1 question for your individual |(Please select 2 questions for your group assignment | | |assignment regardless how many questions are given in |regardless how many questions are given in each case) | | |each case) | | | |Submission deadline: JANUARY 4TH, 2014 | | |Submission to: ANHDANGLUCKY@GMAIL.COM | |ZENITH |What would you do to improve the reliability of the |What managerial and research problems that face Zenith?| | |market research, if you were the top management of the | | | |company? |Where could Zenith get the relevant information? | | |What would the best way be to discover the market |What would you do if you were Pearlman? | | |demand of the new product of Zenith? | ...
Words: 693 - Pages: 3
...6223-021 Analytic Methods for Understanding What Consumers Value 195 Crow Thursdays 2-4:50 pm Spring 2011 Professor William R. Dillon 210A Fincher 214/768-3163 Email: bdillon@mail.cox.smu.edu Office Hours: Thursday 1-2 pm and by appointment Course Description Determining what is valued and the importance of product features and service offerings is perhaps the most important issue that marketing managers face. Recently, conjoint and choice models have become popular techniques to help marketing managers understand what customers value. The objective of this course is to expose the student to a variety of preference models used by brand managers and marketing analysts and to give students hands-on experience in using conjoint and choice modeling techniques. This course examines these marketing decisions using a combination of lectures, cases, and exercises. Learning Objectives: 1) Develop an understanding of consumer decision making frameworks and protocols. 2) Learn how to design and analyze choice/conjoint experiments so as to quantify the importance consumers place on specific attributes/ benefits. Course Material Readings, Lecture notes, Case Exercises and Situation Analysis directions are available on Blackboard at https://courses.smu.edu/webapps/login/ . Evaluation Exam 40% Quizzes 35% Simulation Exercise 25% 100% Please consult the Simulation Exercise document for details. IMPORTANT! ...
Words: 1318 - Pages: 6
...Business Singapore Management University Catherine A. Ramus* Assistant Professor Donald Bren School of Environmental Science and Management University of California Santa Barbara, CA 93106- 5131 Email: Ramus@bren.ucsb.edu Tel: (805) 893 5057 Fax: (805) 893 7612 *Corresponding Author 1 The authors’ names are merely alphabetical. 2 CORPORATE SOCIAL RESPONSIBILITY REPUTATION EFFECTS ON MBA JOB CHOICE ABSTRACT In a preliminary study with 279 MBA’s from two European and three North American business schools we find that reputation-related attributes of caring about employees, environmental sustainability, community/ stakeholder relations, and ethical products and services are important in job choice decisions. We use an adaptive conjoint analysis survey tool to discover the relative weighting of a new set of social responsibility job search criteria, including these attributes with traditional job search criteria like financial package, geographical location, etc. In addition, our results show that more than ninety percent of the MBAs in the sample were willing to forgo financial benefits in order to work for an organization with a better reputation for corporate social responsibility and ethics. 3 CORPORATE SOCIAL RESPONSIBILITY REPUTATION EFFECTS ON MBA JOB CHOICE Masters in Business Administration students (MBA’s) select employment in organizations based upon the relative utility they...
Words: 1819 - Pages: 8
...• Please complete this Funding Application Coversheet and attach it to external research grant/funding proposals. Applications and proposals for research funding are to be submitted through UQ Research & Innovation (UQR&I). • Except for major grant rounds where specified UQ internal closing dates apply, grant/funding applications should be lodged with UQ Research & Innovation at least ten (10) working days prior to the external (funding body) closing date. • This Funding Application Coversheet is required to be submitted with proposals for funding under UQ Policy PPL 4.10.04. • The information supplied in this coversheet is used for application certification, grant management and statistical purposes. |Summary Grant information | |Administering UQ School/Centre | School of Agriculture and Food Sciences | |UQ Faculty/Institute | Faculty of Science | |Project title | Investigation of stocking rate, pheromone and pesticides on efficiency of bee pollination | |(Title to appear on official documents relating to this | ...
Words: 1245 - Pages: 5
...Kirin USA, Inc.: Ichiban Shibori BADM 7100 – Marketing Dr. Jianan Wu April 8, 2011 Kirin Brewery Limited founded over 100 years ago in Yokohama, Japan is the largest beer in Japan today. It is also the fourth largest beer firm in the world; however, almost half of its’ market share in 1990 was in Japan. Competitor Asahi entered the market with a super dry beer in 1987 unsettling the field. This new concept of a sharper, less sweet beer with a higher alcohol content appealed to heavy beer drinkers and was very successful in the Japanese market. Asahi overcame Sapporo rising to the title of number three brewer in Japan. Kirin’s answer to Asahi’s super dry beer was a new full bodied beer with no aftertaste called Ichiban Shibori. Sales response was very impressive and fueled Kirin’s interest in the U.S. market. First, the U.S. had a high proportion of import beers in their market, and second, Kirin was in second place behind Sapporo in the U.S. market. U.S. operations began in 1983, and Kirin USA, Inc. was born. At that time only 3% of the 184 million barrels of beer consumed in the U.S. was imported. In 1987, a 2% increase in imports coincided with a 3 million barrel consumption increase. This prompted agreements with Molson USA and Martlet to diversify their marketing campaign. Print media and radio spots were targeted in Los Angeles and New York City where the majority of Kirin’s U.S. customer base lived. Before and after recall tests confirmed what...
Words: 1613 - Pages: 7
