Home | ARTS | Research Methodology | Applications Of Conjoint Analysis - Factor Analysis And Conjoint Analysis

Research Methodology - Factor Analysis And Conjoint Analysis

Applications Of Conjoint Analysis - Factor Analysis And Conjoint Analysis

   Posted On :  27.05.2018 09:10 pm

An idea of consumer’s preferences for combinations of attributes will be useful in designing new products or modification of an existing product.

Applications Of Conjoint Analysis
 
1. An idea of consumer’s preferences for combinations of attributes will be useful in designing new products or modification of an existing product.

2. A forecast of the profits to be earned by a product or a service.

3. A forecast of the market share for the company’s product.

4. A forecast of the shift in brand loyalty of the consumers.

5. A forecast of differences in responses of various segments of the product.

6. Formulation of marketing strategies for the promotion of the product.

7. Evaluation of the impact of alternative advertising strategies.

8. A forecast of the consumers’ reaction to pricing policies.

9. A forecast of the consumers’ reaction on the channels of distribution.

10. Evolving an appropriate marketing mix.

11. Even though the technique of conjoint analysis was developed for the formulation of corporate strategy, this method can be used to have a comprehensive knowledge of a wide range of areas such as family decision making process, pharmaceuticals, tourism development, public transport system, etc.
Tags : Research Methodology - Factor Analysis And Conjoint Analysis
Last 30 days 594 views

OTHER SUGEST TOPIC