Conjoint Analysis
According to the video: Managers at these companies make ___ guesses about how to approach the customer in the best way possible, however, there is also a proven method to appeal to consumers.
educated
Jane works for a company that manufactures bazoogles, unfortunately a rival company came out with a new bazoogle and Jane’s sales have gone ____ever since, now her company is in crisis.
down
Which is the most commonly used Conjoint Analysis approach today?
Choice Based Conjoint (CBC)
What is the topic that was seen today in class, presented by the team?
Conjoint analysis
What is conjoint analysis?
Its a research technique used in different market investigations with the objective of understanding how people value different attributes in a product or service.
What will a conjoint analysis provide for Jane, in a smarter way?
A conjoint analysis will provide Jane with the ability to test thousands of possible bazoogles to find the right one.
It lets the researcher include a "None" option for respondents, such as "I wouldn't choose any of these." By selecting that option, respondents who do not like any of the options can express their lack of interest.
What is the name of the team that presented today?
Rayados
The final purpose is understand in a person what are the aspects in a product that they value more. Win consumers by putting right features and prices.
Name some (at least 2) of the features mentioned in the video about bazoogles.
Snozzles, monitors, noice, zoinks per minute, whiz bangs, price.
TRUE OR FALSE: One of the best attributes of conjoint analysis is that by the use of it, researchers get less results about the customer necessities. It doesnt show the correct results.
False.
What is the full name of the class that we are taking and the group we are in?
International Business Intelligence Group 701
The video mentioned an example that perfectly shows a conjoint analysis, which is this example?
Bazoogle example
Using statistical analysis, what can softwares do according to the example on the video?
Using statistical analysis, the software makes preference stores for each consumer in the sample.
Conjoint analysis is also seen as ____, that a customer is willing to make, by preferring one attribute from another, to what are we referring to?
trade-off
BRAIN TEST: Before today´s session, what was the topic that we saw BEFORE Spring Break
Statistical Significance
Mention 3 examples said in the video about conjoint analysis.
Smartphone manufacturers, hotels and resorts, consumer packaged good companies, bazoogle example.
In essence, what is conjoint analysis doing that quantifies the preferences of consumers?
In essence, conjoint analysis is taking a snapshot of each consumer’s brain and derives a statistical model that quantifies the preferences that led them to choose different bazoogles and pay for them the way they do.
Give an example that was NOT given in the video that was mentioned in the presentation by the team members.
Spark vs Nissan Versa; analyzing security in the car for a more economic car in one end and willing to trade off the gasoline efficiency for a more secure car in the other end.
Who are the team members of the team that presented today?
Neto, Memo (Luis Guillermo), Emilio