 Problem SettingVithala R. Rao
Chapter Chapter 1 in Applied Conjoint Analysis, 2014, pp 1-36 from Springer Abstract: Abstract Several interdependent decisions are involved in the formulation of a marketing strategy for a brand (of a product or service). These include not only decisions about the product’s characteristics but also its positioning, communication, distribution, and pricing to chosen sets of targeted customers. The decisions will need to be made in the wake of uncertain competitive reactions and a changing (and often unpredictable) environment. For a business to be successful, the decision process must include a clear understanding of how customers will choose among (and react to) various competing alternatives. It is well accepted in marketing that choice alternatives can be described as profiles on multiple attributes and that individuals consider various attributes while making a choice. While choosing, consumers typically make trade-offs among the attributes of a product or service. Conjoint analysis is a set of techniques ideally suited to studying customers’ choice processes and determining tradeoffs. Keywords: Attribute Level; Conjoint Analysis; Marketing Research; Preference Rating; Full Profile (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-87753-0_1 Ordering information: This item can be ordered from DOI: 10.1007/978-3-540-87753-0_1 Access Statistics for this chapter More chapters in Springer Books from Springer |
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