trade off analysis/conjoint analysis
technique that is more commonly used in concept evaluation; used in generating high potential concepts for future evaluation. it is the analysis of the process by which customers compare and evaluate brands based on their attributes or features.
be able to specify the product as a bundle of attributes, know determinant attributes, respondents should be familiar with the product category, firm should be able to act on the results
practical guidelines for the use of conjoint analysis
adaptive conjoint analysis
shows only a few attributes at a time to the respondent and adapts to the respondent as the conjoint exercise goes on
choice based conjoint analysis
respondent is shown several alternative product choices ad is asked which he or she would prefer
are a valid early indicator of ultimate product success, at least for product extensions
customers can have a simulated virtual reality walk through experience that simulates the buying process and marketers can watch what happens
uses any and all features, not just measurements of dimensions (such as spatial--lenght, width and so on) the task involves listing all of the physical features of a product type
full conjoint analysis is useful in measuring up t o____ attributes
uses _______ ______ as a proxy for customer preference
attributes X level X utility value = product
equation for conjoint analaysis
how the respondent combines the partworths of the factors to obtain the overall worth
similarities of conjoint and gap analysis
Both are based on product attributes (features/functions/benefits).
Both can demonstrate product difference by numeric difference.
differences of conjoint and gap analysis
Focus is trade-off between attributes, not only identification of gap.
Conjoint analysis can be easily extended to multiple attributes.
Conjoint analysis more realistic (Think about the swimsuit example again).