MKTG6004 Lecture Notes - Lecture 7: Firstclass, Conjoint Analysis, Dimensional Analysis
15 Aug 2018
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Document Summary
Chapter 7 analytical attribute approaches: trade-off analysis and. Trade-off analysis refers to the analysis of the process by which customers compare and evaluate brands based on their attributes or features. Conjoint analysis is the name of the most common analytical tools used to assess trade-offs. The assumption that customers will combine these features rationally when evaluating brands, is not always realistic. A customer might like mild, green and thick salsa but will buy spicy salsa because her mother would always buy that. Furthermore some issues are not handled by conjoint analysis such as purchase occasion, variety-seeking behaviour and decisions made jointly. Adaptive conjoint analysis can make up for shortcomings, it shows only a few attributes at a time to the respondent and adapts to the respondents as the conjoint exercise goes on. Another alternative is choice-based conjoint analysis in which the respondent is shown several alternative product choices and is asked which he or she would prefer.
