how to find out which product attributes your customers value the most by using conjoint analysis...
DESCRIPTION
Learn How To Do Conjoint Analysis With Dummy Variable Regression To Find Out What Product Attributes Your Customers Value the Most.TRANSCRIPT
How To Find Out Which Product Attributes Are Most Important By
Using Conjoint Analysis With Dummy Variable Regression in Excel
http://blog.excelmasterseries.com/
What Is Conjoint Analysis?
● Conjoint Analysis Calculates the Customer’s “Utility,” or Degree of Liking, for Each Product Attribute
● Conjoint Analysis Allows the Marketer To Find Out What Group of Product Attribute Choices the Consumer Values Most, and By How Much
http://blog.excelmasterseries.com/
The 6 Steps to Conjoint Analysis in Excel
1) List All Product Attributes for 1 Product 2) List All Possible Attribute Combinations 3) Have Consumer Rate Each Attribute Combination 4) Prepare Completed Survey For Regression 5) Run Regression in Excel 6) Derive Attribute Utilities From Regression Output
http://blog.excelmasterseries.com/
1) List All Product Attributes for 1 Product
http://blog.excelmasterseries.com/
2) List All Possible Combinations of Those Attributes
3) Have the Consumer Rate Each Attribute Combination
4) Prepare Completed Survey For Regression
5) Run the Regression in Excel
http://blog.excelmasterseries.com/
6) Derive Attribute Utilities From Regression Output
Final Attribute Utility Values
Showing That Removing Dummy Variables Has No Effect On The Output