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Consumer Preferences
&
Consumer Perceptions
Suresh Malodia
Associate Professor SIBM Pune
Concept test
A straightforward test: consumers are presented with product
idea and directly asked for their reaction
How likely would you be to buy this product.
Conjoint analysis
Its a in depth test that not only looks at the reactions to a
product idea but also gets insights into the underlying
preferences.
Concept Testing
Colgate Palmolive faced the issue of whether or not
to introduce a new toothbrush and how to position it.
Consumers reacted to the offering on a five-point
purchase intention scale, marking one box
87% consumers rated the concept in one of the top
two boxes.
Colgate
Precision
Indicator
11 of
trial
Conjoint Analysis
Conjoint analysisis a statistical technique used in market
research to determine how people value different attributes
(feature, function, benefits) that make up an individual product or
service.
The trick is, via construction of the value system, we bootstrap
ourselves up from asking about preferences on a small subset of
products being able to make predictions about relative
preference for any products with these attributes.
Ui = Ui1 + Ui2 + . . . . . . . . . . . . . + Uin
Perceptual Mapping
Perceptual maps measure the way products are
positioned in the minds of consumers and show these
perceptions on a graph whose axes are formed by
product attributes. (Kardes, Cronley, & Cline, 2011).
A perceptual map represents customer perceptions
and preferences spatially by means of a visual display
(Ferrell & Hartline, 2008).
Thank you