24223 Study Guide - Final Guide: Psychographic, Brand Loyalty, Australian Tertiary Admission Rank
Document Summary
Final exam notes: analytical attribute approaches & concept testing, product attributes are of three types, features , functions , benefits . 2-dimensional map based on axes determined by manager. Multi-dimensional map positioning brands based on relative distance. Does it enhance the firm"s competencies: competitive insulation can the product"s advantage be maintained against competitive retaliation, many ideas are eliminated before concept testing, pic eliminates most new product ideas. Process: determine the product attributes that are most important to the customer, calculate the number of profiles (combinations, consumers rank profiles based on their preferences, output can be represented by graphs for easy representation. Other concept testing: benefit segmentation people have different preferences, group people with same/similar preferences to use in ar maps or conjoint analysis. Adaptive conjoint analysis: shows only a few attributes to the respondents at a time and adapts to the respondent as the conjoint analysis goes on, respondent first asked which attributes are important and liked/disliked.
