9 - Marketing Research

Question 1

conjoint analysis

Answer 1

used to elicit preferences for different attributes + WTP (see what they value)
- conceptually simple but very laborious
- can be used to predict market shares

Question 2

types of conjoint analysis

Answer 2

• rating-based conjoint
• choice-based conjoint

Question 3

limitations of conjoint analysis

Answer 3

do the features interact?

few levels may be too many levels = use software (adapted conjoint analysis)

can be unreliable for extracting price elasticity (WTP)

Question 4

perceptual maps

Answer 4

elicit consumer perceptions + preferences
- psychological associations
- used for finding white space

• perceptual maps compress dimensions and create a type of scatter plot

Question 5

consumer analytics

Answer 5

• user testing (narrated consumer navigating website)
• eye tracking
• funnel analysis
• cohort analysis (monitoring users)