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Conjoint Measurement Analysis

In: Applied Multivariate Statistical Analysis

Author

Listed:
  • Wolfgang Karl Härdle

    (Humboldt-Universität zu Berlin, C.A.S.E. Centre f. Appl. Stat. & Econ. School of Business and Economics)

  • Léopold Simar

    (Katholieke Univeristeit Leuven Inst. Statistics, Center of Operations Research & Econometrics (CORE))

Abstract

Conjoint Measurement Analysis plays an important role in marketing. In the design of new products it is valuable to know which components carry what kind of utility for the customer. Marketing and advertisement strategies are based on the perception of the new product’s overall utility. It can be valuable information for a car producer to know whether a change in sportiness or a change in safety or comfort equipment is perceived as a higher increase in overall utility. The Conjoint Measurement Analysis is a method for attributing utilities to the components (part worths) on the basis of ranks given to different outcomes (stimuli) of the product. An important assumption is that the overall utility is decomposed as a sum of the utilities of the components.

Suggested Citation

  • Wolfgang Karl Härdle & Léopold Simar, 2015. "Conjoint Measurement Analysis," Springer Books, in: Applied Multivariate Statistical Analysis, edition 4, chapter 0, pages 473-486, Springer.
    • Handle: RePEc:spr:sprchp:978-3-662-45171-7_18
    DOI: 10.1007/978-3-662-45171-7_18
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