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Multivariate Data Analysis Chapter 7 - Conjoint Analysis

Multivariate Data Analysis Chapter 7 - Conjoint Analysis. MIS 6093 Statistical Method Instructor: Dr. Ahmad Syamil. Chapter 7 What Is Conjoint Analysis? . A Hypothetical Example of Conjoint Analysis An Empirical Example The Managerial Uses of Conjoint Analysis

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Multivariate Data Analysis Chapter 7 - Conjoint Analysis

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  1. Multivariate Data AnalysisChapter 7 - Conjoint Analysis MIS 6093 Statistical Method Instructor: Dr. Ahmad Syamil

  2. Chapter 7What Is Conjoint Analysis? • A Hypothetical Example of Conjoint Analysis • An Empirical Example • The Managerial Uses of Conjoint Analysis • Comparing Conjoint Analysis with Other Multivariate Methods • Compositional Versus Decompositional Techniques • Specifying the Conjoint Variate • Separate Models for Each Individual • Types of Relationships

  3. Chapter 7Designing a Conjoint Analysis Experiment • Stage 1: The Objectives of Conjoint Analysis • Defining the Total Utility of the Object • Specifying the Determinant Factors

  4. Chapter 7Designing a Conjoint Analysis Experiment Cont. • Stage 2: The Design of a Conjoint Analysis • Selecting a Conjoint Analysis Methodology • Designing Stimuli: Selecting and Defining Factors and Levels • General Characteristics of Both Factors and Levels • Communicable Measures • Actionable Measures • Specification Issues Regarding Factors • Number of Factors • Factor Multicollinearity • The Unique Role of Price as a Factor • Specification Issues Regarding Levels • Balanced Number of Levels • Range of the Factor Levels

  5. Chapter 7Designing a Conjoint Analysis Experiment Cont. • Stage 2: The Design of a Conjoint Analysis Cont. • Specifying the Basic Model Form • The Composition Rule: Selecting an Additive Versus an Interactive Model • The Additive Model • Adding Interaction Effects • An Example of Interaction Effects on Part-Worth Estimates • Selecting the Model Type • Selecting the Part-worth Relationship: Linear, Quadratic, or Separate Part-worths • Types of Part-Worth Relationships • Selecting a Part-Worth Relationship

  6. Chapter 7Designing a Conjoint Analysis Experiment Cont. • Stage 2: The Design of a Conjoint Analysis Cont. • Data Collection • Choosing a Presentation Method • The Trade-Off Presentation Method • The Full-Profile Presentation Method • The Pairwise Combination Presentation Method • Creating the Stimuli • The Trade-Off Presentation Method • The Full-Profile or Pairwise Combination Presentation Methods • Defining Subsets of Stimuli • Selecting a Measure of Consumer Preference • Survey Administration

  7. Chapter 7Designing a Conjoint Analysis Experiment Cont. • Stage 3: Assumptions of Conjoint Analysis • Stage 4: Estimating the Conjoint Model and Assessing Overall Fit • Selecting an Estimation Technique • Evaluating Model Goodness-of-Fit

  8. Chapter 7Designing a Conjoint Analysis Experiment Cont. • Stage 5: Interpreting the Results • Aggregate Versus Disaggregate Analysis • Assessing the Relative Importance of Attributes • Stage 6: Validation of the Conjoint Results

  9. Chapter 7Managerial Applications of Conjoint Analysis • Segmentation • Profitability Analysis • Conjoint Simulators

  10. Chapter 7Alternative Conjoint Methodologies • Adaptive Conjoint: Conjoint with a Large Number of Factors • Self-explicated Conjoint Models • Adaptive/hybrid Conjoint Models

  11. Chapter 7Alternative Conjoint Methodologies Cont. • Choice-based Conjoint: Adding Another Touch of Realism • A Simple Illustration of Full-profile Versus Choice-based Conjoint • Unique Characteristics of Choice-Based Conjoint • Type of Decisionmaking Process Portrayed • Stimuli Design • Estimation Technique • Some Advantages and Limitations of Choice-based Conjoint • The Choice Task • Predictive Accuracy • Managerial Applications • Availability of Computer Programs • Summary • Overview of the Three Conjoint Methodologies

  12. Chapter 7An Illustration of Conjoint Analysis • Stage 1: Objectives of the Conjoint Analysis • Stage 2: Design of the Conjoint Analysis • Selecting a Conjoint Methodology • Designing Stimuli • Specifying the Basic Model Form • Data Collection

  13. Chapter 7An Illustration of Conjoint Analysis Cont. • Stage 3: Assumptions in Conjoint Analysis • Stage 4: Estimating the Conjoint Model and Assessing Overall Model Fit • Stage 5: Interpreting the Results • Stage 6: Validation of the Results • A Managerial Application: Use of a Choice Simulator

  14. Chapter 7 • Summary • Questions • References …… end

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