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# Lili He MKT 315 Professor Diamond Conjoint Analysis Tool application paper Conjoint Analysis Tool helps marketer

to analysis and values their product in the market, from their current stand point of importance to how to maximize their market share in market. In the process of Conjoint Analysis, we first have to analysis where our product at, find out the importance of each attributes, later on, we make assumptions to see if the possibility to maximize the importance of the product in the market to the customer. To get the Conjoint Analysis started, we first use regression output which after ranking the profiles, to find whats the Coefficients, in other word, this step allows to rescaling utilities from largest number to the smallest. When calculate the re-scaling Utilities, we have to use the sum of coefficient number minus the lowest coefficient and divided by the range. I had calculated for each attributes and analysis into groups of four: prices, cooking method, size, and bun type. From put in analysis to the bar chart, it shows a bigger picture of the importance of each attributes on each column, we know the best product based on total utility and the most importance, which what we have to find out in the end that to change in one attributes and impact the total utility in the market share. In order to find out the TPU (Total Product Utilities), first is to choose the most optimal product base on the rescaled attributes level utilities, after calculate overall feature importance; we pluck in the percentage of overall feature importance to create a

bar chart. This tells market analyzer the trade-offs between features, whether the attributes are not so important to the market, which explain the new trend of feature importance to customer that company should focus. One of the main reason for doing the conjoin Analysis is to know whats the market share, company create a markets profiles and calculate the utility of each profile, this allows company to find out the preference share, which marketer use this number into the market share formula and calculate the assumption of each profiles. This can test the reaction to competitors actions, how importance is their product in market place. Last, we have create other hypothetical which to change the combination of the current product after calculate the current market share, this is the main point of conjoin analysis, which is to find out will company be better off create a new product combination. In my conjoin analysis, the result comes out positive which had increased 3.03% in the market share and as well my competitor had their percentage lower then before. It is very interesting that Conjoint Analysis tool shows the possibility of what a company can do to make their product better, which is to increase their market share. From my market share result, Conjoint Analysis tool proves even a product has a fair price in the market, but does not mean they will do fair in the market place. According to the analysis, after the assumption that to test whether the result will be a positive outcome after changed some attributes, which from \$4.00 with Ibs to \$6.00 with Ibs of meat, market share surprisingly increased 3.03%, other competitor had decrease 1.73% and1.93%. What makes me so surprise is that normally lower price with more quantities should be better, but in this case, Conjoint Analysis proves that a high quality of burger is what matter even thought with a higher price. Also, Conjoint Analysis shows all the

possibilities that company can work on, there are so many what if that company can try, which from the application, company know their current position in the market, what matter to the consumer now, how to met the need of what they want, and create something better by using what the company had and turn to a better possibility. Assumsion 1: A \$4.00 1/2 Ibs Seame Flat grilled 0.66 A B C B \$4.00 3/4 Ibs Seame
C \$2.00 1/4 Ibs Whole grain

## 30.07% 40.05% 29.87%

Product A:(assumsion 2)

TPU
Preference Share:

Market Share:

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