# Multivariate Data Analysis Chapter 7 - Conjoint Analysis

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```					 Multivariate Data Analysis
Chapter 7 - Conjoint Analysis
MIS 6093 Statistical Method
Chapter 7
What Is Conjoint Analysis?
   A Hypothetical Example of Conjoint
Analysis
   An Empirical Example
 The Managerial Uses of Conjoint Analysis
 Comparing Conjoint Analysis with Other
Multivariate Methods
   Compositional Versus Decompositional
Techniques
   Specifying the Conjoint Variate
   Separate Models for Each Individual
   Types of Relationships
Chapter 7
Designing a Conjoint Analysis Experiment
   Stage 1: The Objectives of Conjoint
Analysis
   Defining the Total Utility of the Object
   Specifying the Determinant Factors
Chapter 7
Designing a Conjoint Analysis Experiment Cont.
   Stage 2: The Design of a Conjoint Analysis
   Selecting a Conjoint Analysis Methodology
   Designing Stimuli: Selecting and Defining
Factors and Levels
   General Characteristics of Both Factors and Levels
 Communicable Measures
 Actionable Measures
   Specification Issues Regarding Factors
 Number of Factors
 Factor Multicollinearity
 The Unique Role of Price as a Factor
   Specification Issues Regarding Levels
   Balanced Number of Levels
   Range of the Factor Levels
Chapter 7
Designing a Conjoint Analysis Experiment Cont.
   Stage 2: The Design of a Conjoint Analysis
Cont.
   Specifying the Basic Model Form
   The Composition Rule: Selecting an Additive Versus
an Interactive Model
 An Example of Interaction Effects on Part-Worth
Estimates
 Selecting the Model Type
   Selecting the Part-worth Relationship: Linear,
 Types of Part-Worth Relationships
 Selecting a Part-Worth Relationship
Chapter 7
Designing a Conjoint Analysis Experiment Cont.
   Stage 2: The Design of a Conjoint Analysis
Cont.
   Data Collection
   Choosing a Presentation Method
 The Full-Profile Presentation Method
 The Pairwise Combination Presentation Method
   Creating the Stimuli
 The Full-Profile or Pairwise Combination Presentation
Methods
 Defining Subsets of Stimuli
   Selecting a Measure of Consumer Preference
Chapter 7
Designing a Conjoint Analysis Experiment Cont.
   Stage 3: Assumptions of Conjoint Analysis

   Stage 4: Estimating the Conjoint Model
and Assessing Overall Fit
   Selecting an Estimation Technique
   Evaluating Model Goodness-of-Fit
Chapter 7
Designing a Conjoint Analysis Experiment Cont.
   Stage 5: Interpreting the Results
   Aggregate Versus Disaggregate Analysis
   Assessing the Relative Importance of
Attributes

   Stage 6: Validation of the Conjoint Results
Chapter 7
Managerial Applications of Conjoint Analysis
 Segmentation
 Profitability Analysis
 Conjoint Simulators
Chapter 7
Alternative Conjoint Methodologies
   Adaptive Conjoint: Conjoint with a Large
Number of Factors
   Self-explicated Conjoint Models
Chapter 7
Alternative Conjoint Methodologies Cont.
   Choice-based Conjoint: Adding Another Touch of
Realism
   A Simple Illustration of Full-profile Versus Choice-based
Conjoint
   Unique Characteristics of Choice-Based Conjoint
   Type of Decisionmaking Process Portrayed
   Stimuli Design
   Estimation Technique
   Some Advantages and Limitations of Choice-based
Conjoint
   Predictive Accuracy
   Managerial Applications
   Availability of Computer Programs
   Summary
   Overview of the Three Conjoint Methodologies
Chapter 7
An Illustration of Conjoint Analysis
   Stage 1: Objectives of the Conjoint
Analysis

   Stage 2: Design of the Conjoint Analysis
   Selecting a Conjoint Methodology
   Designing Stimuli
   Specifying the Basic Model Form
   Data Collection
Chapter 7
An Illustration of Conjoint Analysis Cont.
 Stage 3: Assumptions in Conjoint Analysis
 Stage 4: Estimating the Conjoint Model
and Assessing Overall Model Fit
 Stage 5: Interpreting the Results
 Stage 6: Validation of the Results

   A Managerial Application: Use of a Choice
Simulator
Chapter 7
 Summary
 Questions
 References

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