"Interpreting conjoint results can be complicated and confusing, and typically requires assistance from a professional researcher."
Waltham, MA (PRWEB) February 1, 2010
Andrew Wilson, Project Director at Applied Marketing Science, has authored the article "What If...?" in the Winter 2010 edition of AMS Voices. The article discusses the use of conjoint analysis in helping developers determine product feature and pricing combinations. Through the use of conjoint analysis, says Wilson, developers can gain a clearer understanding of how important each feature is relative to others in customers' purchase decisions. It can also be used to predict the actual market potential of hypothetical product offerings.
In the article, Wilson discusses how powerful simulators, developed by professional market researchers in collaboration with clients, can be used to help product developers evaluate extensive combinations of features and pricing. For example, a laptop manufacturer can use conjoint analysis to determine the value of individual features - such as screen size, battery life, and storage capacity - relative to one another, and how much the consumer would actually pay for them. Using this analysis, companies are better equipped to make important product design and pricing decisions.
About the Author
Andrew Wilson is a Project Director in both the New Product Development and Litigation Support practice areas of AMS. Andrew is well versed in all phases of the research process for both quantitative and qualitative projects, including project management, data analysis, and client support. Andrew holds a B.S. in Business from the University of Connecticut, and an M.S. in Marketing Analytics from Bentley College.
About Applied Marketing Science
Applied Marketing Science is one of the leading Voice of the Customer consulting companies in the world, with proven methodologies for gathering the Voice of the Customer, training and coaching clients in VOC methods, and brainstorming using state-of-the-art, web-based tools. Over the past twenty years, we have helped hundreds of clients in a broad range of industries incorporate “best practices” into their product development processes. Founded in 1989 with roots in the MIT Sloan School, AMS offers an array of services to meet client needs, and specializes in developing customized solutions for each situation.
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