IDEAS home Printed from https://ideas.repec.org/a/zag/market/v20y2008i1p25-36.html
   My bibliography  Save this article

Application of conjoint analysis in studying demand for mp3 players on the B-H market

Author

Listed:
  • Emir Kurtović

    (Ekonomski fakultet u Sarajevu, Sveučilište u Sarajevu)

  • Muris Čičić

    (Ekonomski fakultet u Sarajevu, Sveučilište u Sarajevu)

  • Emir Agić

    (Ekonomski fakultet u Sarajevu, Sveučilište u Sarajevu)

Abstract

Purpose: The paper illustrates practical aspects of conjoint analysis in studying evaluation and preference criteria when buying hardware MP3 players among the youth, as the most significant segment of such product buyers. Methodology: The methodology consisted of several surveys of young consumers in the Sarajevo region. In the first step, we used unstructured focus group interviews combined with a series of multiple-choice and open-ended questions for identifying product attributes and attribute levels that are relevant to consumers’ preferences. After the main attributes and the levels of attributes had been selected, they were combined to form different hypothetical product profiles. Obtained data were analyzed with the help of the conjoint analysis software. Findings: The results show that MP3 player manufacturers and sellers should focus their marketing strategies on the brand when targeting young people, as the most significant market segment for such products. The findings of the demand and price sensitivity analysis imply that the buyers of this product category are generally price-sensitive and therefore willing to switch brands. Limitations: While the study covered the most important attributes regarding MP3 players, it might be desirable to include design as an additional attribute as well as more brands. Also, a sample size could be increased to allow market segmentation based on the obtained part-worths.

Suggested Citation

  • Emir Kurtović & Muris Čičić & Emir Agić, 2008. "Application of conjoint analysis in studying demand for mp3 players on the B-H market," Tržište/Market, Faculty of Economics and Business, University of Zagreb, vol. 20(1), pages 25-36.
    • Handle: RePEc:zag:market:v:20:y:2008:i:1:p:25-36
    as

    Download full text from publisher

    File URL: http://hrcak.srce.hr/file/80945
    Download Restriction: None
    ---><---

    References listed on IDEAS

    as
    1. Paul E. Green & Abba M. Krieger & Yoram Wind, 2001. "Thirty Years of Conjoint Analysis: Reflections and Prospects," Interfaces, INFORMS, vol. 31(3_supplem), pages 56-73, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Merja Halme & Kari Linden & Kimmo Kääriä, 2009. "Patients’ Preferences for Generic and Branded Over-the-Counter Medicines," The Patient: Patient-Centered Outcomes Research, Springer;International Academy of Health Preference Research, vol. 2(4), pages 243-255, December.
    2. Marianne Bertrand & Dean S. Karlan & Sendhil Mullainathan & Eldar Shafir & Jonathan Zinman, 2005. "What's Psychology Worth? A Field Experiment in the Consumer Credit Market," Working Papers 918, Economic Growth Center, Yale University.
    3. Atallah, Shadi S. & Huang, Ju-Chin & Leahy, Jessica & Bennett, Karen, 2020. "Preference Heterogeneity and Neighborhood Effect in Invasive Species Control: The Case of Glossy Buckthorn in New Hampshire and Maine Forests," 2020 Annual Meeting, July 26-28, Kansas City, Missouri 304623, Agricultural and Applied Economics Association.
    4. Yoon, Moon Gil & Yoon, Duk Young & Yang, Tae Won, 2006. "Impact of e-business on air travel markets: Distribution of airline tickets in Korea," Journal of Air Transport Management, Elsevier, vol. 12(5), pages 253-260.
    5. Norbert Bajkó & Zsolt Fülöp & Kinga Nagyné Pércsi, 2022. "Changes in the Innovation- and Marketing-Habits of Family SMEs in the Foodstuffs Industry, Caused by the Coronavirus Pandemic in Hungary," Sustainability, MDPI, vol. 14(5), pages 1-17, March.
    6. Heap, Shaun P. Hargreaves & Koop, Christel & Matakos, Konstantinos & Unan, Asli & Weber, Nina Sophie, 2021. "We Cannot Disagree Forever! Reality Polarization and Citizens’ Post-Pandemic Fiscal Adjustment Preferences," SocArXiv 69tup, Center for Open Science.
    7. Emmanuel Olateju Oyatoye & Sulaimon Olanrewaju Adebiyi & Bilqis Bolanle Amole, 2013. "An Application of Conjoint Analysis to Consumer Preference for Beverage Products in Nigeria," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 9(6), pages 43-56, December.
    8. Krieger, Abba M. & Green, Paul E., 2006. "A tactical model for resource allocation and its application to advertising budgeting," European Journal of Operational Research, Elsevier, vol. 170(3), pages 935-949, May.
    9. John Liechty & Duncan Fong & Eelko Huizingh & Arnaud Bruyn, 2008. "Hierarchical Bayesian conjoint models incorporating measurement uncertainty," Marketing Letters, Springer, vol. 19(2), pages 141-155, June.
    10. Christian P Theurer & Andranik Tumasjan & Isabell M Welpe, 2018. "Contextual work design and employee innovative work behavior: When does autonomy matter?," PLOS ONE, Public Library of Science, vol. 13(10), pages 1-35, October.
    11. Shakila Yasmin & Khaled Mahmud & Farzan Afrin, 2016. "Job Attribute Preference of Executives: A Conjoint Analysis," Asian Social Science, Canadian Center of Science and Education, vol. 12(2), pages 1-68, February.
    12. Kick, Markus & Littich, Martina, 2015. "Brand and Reputation as Quality Signals on Regulated Markets," EconStor Preprints 182503, ZBW - Leibniz Information Centre for Economics.
    13. Dean A. Shepherd & Holger Patzelt, 2015. "Harsh Evaluations of Entrepreneurs Who Fail: The Role of Sexual Orientation, Use of Environmentally Friendly Technologies, and Observers' Perspective Taking," Journal of Management Studies, Wiley Blackwell, vol. 52(2), pages 253-284, March.
    14. Meixner, Oliver & Haas, Rainer & Pochtrager, Siegfried, 2007. "Importance and Relevance of Quality Labels in the Austrian Meat Supply Chain," 2007 1st Forum, February 15-17, 2007, Innsbruck, Austria 6598, International European Forum on System Dynamics and Innovation in Food Networks.
    15. Andreas Klein, 2011. "Die Entwicklung eines agentenbasierten Basismodells zur Bestimmung der deckungsbeitragsmaximierenden Anzahl von Außendienstmitarbeitern," Metrika: International Journal for Theoretical and Applied Statistics, Springer, vol. 21(2), pages 189-210, January.
    16. Vetschera, Rudolf & Weitzl, Wolfgang & Wolfsteiner, Elisabeth, 2014. "Implausible alternatives in eliciting multi-attribute value functions," European Journal of Operational Research, Elsevier, vol. 234(1), pages 221-230.
    17. Ragna Nilssen & Geoff Bick & Russell Abratt, 2019. "Comparing the relative importance of sustainability as a consumer purchase criterion of food and clothing in the retail sector," Journal of Brand Management, Palgrave Macmillan, vol. 26(1), pages 71-83, January.
    18. Anil Markandya & Enrica De Cian & Laurent Drouet & Josué M. Polanco-Martìnez & Francesco Bosello, 2016. "Building Uncertainty into the Adaptation Cost Estimation in Integrated Assessment Models," Working Papers 2016.21, Fondazione Eni Enrico Mattei.
    19. Olivier Toubia & Duncan I. Simester & John R. Hauser & Ely Dahan, 2003. "Fast Polyhedral Adaptive Conjoint Estimation," Marketing Science, INFORMS, vol. 22(3), pages 273-303.
    20. Daniel V. Holland & Dean A. Shepherd, 2013. "Deciding to Persist: Adversity, Values, and Entrepreneurs’ Decision Policies," Entrepreneurship Theory and Practice, , vol. 37(2), pages 331-358, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zag:market:v:20:y:2008:i:1:p:25-36. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tanja Komarac (email available below). General contact details of provider: https://edirc.repec.org/data/fefzghr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.