Describe the Marketing Research Process in Detail with an Example
Autor: Adnan • November 12, 2017 • 890 Words (4 Pages) • 1,006 Views
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of a sampling frame, which also illustrates the condition that there is
rarely a perfect correspondence between the sampling frame and the target
population of interest. Even though the target population may be all households
in a particular metropolitan area, the telephone directory provides a
somewhat inaccurate listing, because it omits those without phones or unlisted
numbers and it double counts those with multiple listings. Developing an appropriate
sampling frame can take some creativity—it may mean sampling via
random-digit dialing in telephone surveys. Or it might mean sampling and
subsampling to get the target population just right.
10. What is Clustering? What is its use? What data do you collect to conduct clustering?
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- What is MDS? What is its use? What data do you collect to conduct MDS?
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- What is Conjoint Analysis? What is its use? What data do you collect to conduct a conjoint analysis?
The word conjoint has to do with the notion that the relative values of things considered jointly can be measured when they might not be measurable if taken one at a time. Typically, respondents would be asked to order the stimuli (products, brands, etc.) from most to least desirable. In doing so, the consumer implies the relative value of the features that comprise the various stimuli. The conjoint analysis assigns values to the levels of each of the attributes that describe consumer’s opinions.
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An attractive feature of conjoint analysis is that it allows market share predictions
for selected product alternatives. For example, a common choice rule is
the \1st-choice rule," which assumes that, if the consumer had been shopping,
he or she would choose to buy the object that he or she had rated highest in
terms of preference. Given the estimated utilities for each level of each attribute,
the marketer can predict which of several product options being considered is
likely to appeal most to respondents and what may also be the share of preference
for each of the other options. The utilities can also be linked with
consumers’ personal characteristics, e.g., do high-income households have a higher utility for after-sale service than low-income households?
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