Advantages
- estimates psychological tradeoffs that consumers make when evaluating several attributes together
- measures preferences at the individual level
- uncovers real or hidden drivers which may not be apparent to the respondent themselves
- realistic choice or shopping task
- able to use physical objects
- if appropriately designed, the ability to model interactions between attributes can be used to develop needs based segmentation
Read more about this topic: Conjoint Analysis (marketing)
Famous quotes containing the word advantages:
“If we live in the Nineteenth Century, why should we not enjoy the advantages which the Nineteenth Century offers? Why should our life be in any respect provincial?”
—Henry David Thoreau (1817–1862)
“For, the advantages which fashion values, are plants which thrive in very confined localities, in a few streets, namely. Out of this precinct, they go for nothing; are of no use in the farm, in the forest, in the market, in war, in the nuptial society, in the literary or scientific circle, at sea, in friendship, in the heaven of thought or virtue.”
—Ralph Waldo Emerson (1803–1882)
“When the manipulations of childhood are a little larceny, they may grow and change with the child into qualities useful and admire in the grown-up world. When they are the futile struggle for love and concern and protection, they may become the warped and ruthless machinations of adults who seek in the advantages of power what they could never win as children.”
—Leontine Young (20th century)