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Multivariate Data Analysis
Multivariate Data Analysis
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Important Terminology
Factor Level Profile Utility Part-Worth
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the responses)have valuable each of the level is relative others around it- this value is known as the utility of the level see which attribute make have the greatest impact in making a choice.
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or B?
A: regular seats, that costs $400 and takes 5 hours. B: costs $700 has extra-wide seats and takes 3hours.
Extending this, we see that if seat comfort,
Choic e 1 Seat Pri Comfort ce Extra widea$70 Wide 070 Extra-Extra $7$7 2 0 wideWide 0000 $ 3 ExtrExtra wideaWide $40 4 EExtra widextra- 000 $4$ Wide $4000 00
price and duration are 6 the only relevant 3hrHou 5rs 5hr attributes, there are potentially eight travel 7 Hours 8 33hr choices.
Hours
Choic e 5
Seat Pri Duratio Comfort ce n Regular 5hr5 $7 lar Hours 00 RRegularegu $700 33hr 00 lar $700 Hours ReRegulargu 5hr $400 lar Hours $400 RegRegularu $4$4 3 lar 0000 H3hrour s
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Given the above alternatives: Product 4 is very likely the most preferred choice. Product 5 is probably the least preferred product. The preference for the other choices is determined by
Conjoint analysis can be used to determine: Relative importance of each attribute, attribute level,
Utility Value
A traveler may like the comfort and arrival
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individual level
Uncovers real or hidden drivers
Realistic choice or shopping task Able to use physical objects If appropriately designed, the
ability to model interactions between attributes can be used to develop needs based segmentation
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complex
With too many options, respondents
attitudes toward new categories, or may feel forced to think about issues they would otherwise not give much thought to
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number items per purchase so it can give a poor reading of market share
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