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2014 | OriginalPaper | Buchkapitel

6. Applications for Product and Service Design and Product Line Decisions

verfasst von : Vithala R. Rao

Erschienen in: Applied Conjoint Analysis

Verlag: Springer Berlin Heidelberg

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Abstract

The methodology of conjoint analysis has been most frequently used to tackle the difficult marketing problem of product/service design and product line selection. The typical conjoint approach for these problems is to implement a conjoint study (as per the details discussed in Chaps. 2 and 3) and to use the results to estimate attribute partworths preferably at the individual respondent level. These partworths are then used to determine the values of attributes (or design characteristics of a product or service) so as to optimize an objective function for a firm. This process requires the knowledge of the competitive set in which the new product(s) or product lines will compete and product costs (as a function of the product attributes). Usually the firm’s objective is to maximize the long-run profit potential for the new product(s) or product lines based on stable market shares of the new product(s). If cost information is not available, the objective of long run sales is used (Table 6.1).

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Vorheriges Kapitel Methods for a Large Number of Attributes

Nächstes Kapitel Applications for Product Positioning and Market Segmentation

Nur mit Berechtigung zugänglich

Suppose that the base probability of choice of a product is 0.5 and probability that the product will be available is 0.8, then the augmented probability of choice would be 0.5 × 0.8 = 0.4.

Here we assume that each consumer buys only one unit of the product thus abstracting from the quantity choice decision. See the section on future research ideas on how to take this into account.

In the unlikely event that U_k,s = 0 for all s, we set U_k,s = 1/S.

In addition to the product-based greedy heuristic, one could consider three other heuristics. These are: (a) best-in heuristic; (b) the top-K heuristic; and (c) the divide-and-conquer heuristic. For details, see Green and Krieger (1987a).

This notation differs slightly from other parts of the book.

This material is based on the published work by P.V. (Sundar) Balakrishnan and his colleagues; references noted in the bibliography.

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Titel: Applications for Product and Service Design and Product Line Decisions
verfasst von: Vithala R. Rao
Verlag: Springer Berlin Heidelberg
Buch: Applied Conjoint Analysis
Print ISBN: 978-3-540-87752-3

Electronic ISBN: 978-3-540-87753-0

Copyright-Jahr: 2014
DOI: https://doi.org/10.1007/978-3-540-87753-0_6