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  • list some of the data mining algorithms which are used to perform conjoint analysis?
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  • 1. CONJOINT ANALYSIS Presenter: Swati Verma MBA (AB) 1st Year1
  • 2. Topics To Be Covered Introduction Stages Objectives Managerial Uses Unique Features Assumptions and Limitations 2
  • 3. Conjoint Analysis Conjoint analysis attempts to determine the relative importance consumers attach to relevant attributes and the utilities they attach to the levels of attributes. The respondents are presented with stimuli that consist of combinations of attribute levels and asked to evaluate these stimuli in terms of their desirability. Conjoint measures attempt to assign values to the levels of each attribute, so that the resulting values or utilities attached to the stimuli match, as closely as possible, the input evaluations provided by the respondents. 3
  • 4. Conducting Conjoint Analysis Formulate the Problem Construct the Stimuli Decide the Form of Input Data Select a Conjoint Analysis Procedure Interpret the Results Assess Reliability and Validity 4
  • 5. Objectives To establish a valid model of consumer judgments useful in predicting the consumer acceptance of any combination of attributes, even those not originally evaluated by consumers. 5
  • 6. Conjoint Analysis and Marketing  Conjoint analysis is a versatile marketing research technique that can provide valuable information.  Which new products will be successful?  Which features or attributes of a product or service drive the purchase decision?  Do specific market segments exist for a product?  What advertising appeals will be most successful with these segments?  Will changes in product design increase consumer preference and sales?  What is the optimal price to charge consumers for a product or service?  Can price be increased without a significant loss in sales?6
  • 7. Managerial Uses of Conjoint Analysis1. Find the product with the optimum set of features2. Determine the relative importance of each feature in consumer choices3. Estimate market share among products4. Identify market segments5. Evaluate the impact of price changes or other marketing mix decisions. 7
  • 8. Unique Features of Conjoint Specifying the Conjoint Variety  The only data provided by the subject is the dependent variable. The independent variable is pre specified. Separate Models for Each Individual  A unique model is specified for each individual.  Predictive accuracy is made for each individual. 8
  • 9. Assumptions and Limitations ofConjoint Analysis Conjoint analysis assumes that the important attributes of a product can be identified. It assumes that consumers evaluate the choice alternatives in terms of these attributes. Data collection may be complex, particularly if a large number of attributes are involved and the model must be estimated at the individual level. 9
  • 10. THANK YOU10