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Conjoint Analysis and Perceptual Mapping for Marketing Research
Added on -2019-10-18
This article discusses Conjoint Analysis and Perceptual Mapping in Marketing Research. It includes solved assignments and exercises to help understand the importance of attributes and brand dimensions. The article covers topics such as part-worth, relative importance, and correlation between brand dimensions.
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Marketing Research MARK4338Assignment #4Due Date: Oct 24, 2016 (in class)Suppose Amtrain, a major rail company, is considering a new hi-speed train service from New York to Toronto. To study consumers’ preference for train service, Amtrain commissioned a conjoint study. Train service is modeled as a bundle of the following attributes:Trip duration: 5 hours, 7 hoursPrice: $200, $350Food: snack only, gourmet mealsSeat quality: standard, premiumIn terms of study design, each respondent is shown a total of 2x2x2x2 = 16 product profiles, and is asked to rate each profile on a 0 to 10 scale. 1. Conjoint analysis of a simple example (1 consumer)The survey for one particular respondent is shown in the file “Conjoint train (single respondent).xls”. Note: For Mac users, you need to use EXCEL on a PC (in the computer lab). Using the Tools Data Analysis Regression function in EXCEL, compute(a)The part-worth for each attribute level for this respondent(b)The relative importance of each attribute for this respondentMake sure you explain your dummy variable coding scheme clearly. 2. Compute exercise (N consumers) The complete survey result for 50 respondents are shown in the file “Conjoint train (all respondents).xls”. Using the function LINEST() and the procedure described in class, analyze the conjoint data for all respondents and answer the following questions: (a) what is the most important attribute across the whole population? What is the average relativeimportance of this attribute? (b) what is the least important attribute across the whole population? What is the average relativeimportance of this attribute? (c) what percentage of respondents think that trip duration is most important? Price? Food? Seat quality? 1
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