New conjoint approaches to scaling brand equity and optimising share of preference prediction
Université Paris-Sud, UMR-S 1178, Paris, France
IRCCyN, UMR CNRS 6597, Ecole Centrale de Nantes, France
Controlling product innovation risks and reducing innovation cycles demand valid and fast measurements of customer preferences, to determine which new products are attractive. Preference measurements also help in predicting market share and reduce the risk of flops. One of the most widely applied methods to model consumer preferences is conjoint analysis (Green & Rao 1971; Chakraborty et al. 2002).
In conjoint analysis, two main families arise in prior literature: choice-based and ratings-based (Elrod et al. 1992; Chakraborty et al. 2002; Natter & Feurstein 2002; Moore 2004; Karniouchina et al. 2009). This article will discuss only conjoint analysis on the rating-based approach.