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conjoint analysis.md

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  • About background-color:: purple
    • [[statistical technique]] used in [[market research]]
    • to determine how people value different attributes
      • feature
      • function
      • benefits
    • Regarded as one of the most effective ways to analyze consumer decision-making.
    • Philosophy
      • based on the concept that
        • a product or service is not one sole entity
        • but a combination of several aspects or 'parts.'
  • Purpose/Usefulness background-color:: purple
    • Main goal - quantify the perceived value or importance of each attribute
    • Results used to
      • design new offerings
      • re-position existing ones
  • How? background-color:: purple
    • General background-color:: blue
      • Presenting respondents with a series of options
        • where attributes are combined differently
        • Related collapsed:: true
          • ((65b697d0-7861-4d6f-a5ea-6f70b8848597))
      • Then asking them to state their preference or choice
      • Each attribute is varied systematically
        • across different options
          • known as profiles
      • Compute utility scores based on responses
        • for each level of each attribute
      • Utility scores tell us how desirable each attribute level is to the participants
    • Methodologies background-color:: blue
      • TODO Traditional (Full-Profile) Conjoint Analysis
      • TODO Adaptive Conjoint Analysis
      • TODO Choice-Based Conjoint Analysis
  • Tips background-color:: purple
    • Selection of attributes and levels is crucial id:: 65b697d0-7861-4d6f-a5ea-6f70b8848597
      • they greatly influence the results
      • important to include only key attributes