I made flashcards of the extensive summary of the course Conjoint analysis of dr. A. Lemmens (). You can easily print them(double sided), cut them and use it to practise for the exam.
Explain Give Draw
Many new products are introduced, but 2 advantages and 4 disadvantages of 4 advantages and 2 disadvantages of
very few succeed. Direct survey (compared to conjoint) Conjoint (compared to direct survey)
Explain this issue for companies
4 Session 1 5 Session 1 6 Session 1
Give (& give example) Give Give
3 items an conjoint analysis consist of 3 types of conjoint analysis the best type of conjoint analysis
Give Give Give
The DV and the method of estimation of 2 advantages of rating-based conjoint 6 disadvantages of rating-based conjoint
the three types of conjoint Compared to choice-based Compared to choice-based
13 Session 1 14 Session 1 15 Session 1
Explain Explain Give
Different response style Implications not clear 6 advantages of choice-based conjoint
As a disadvantages of rating-based As a disadvantages of rating-based Compared to rating based
conjoint conjoint
Answer Answer Answer
complex: #Attributes small ☺ simple: #attributes large Companies spend a lot of money to research of
high involvement assumed ☺ no high involvement assumed new products, but it’s not about how MUCH you
☺ forced to make tradeoffs everything is important spend it, but how you spend it.
☺more realistic: hypothetical Not realistic: isolated attributes
☺ implicit less social answers Explicit social answers
☺ predefined range of levels Subjective range of levels
Answer Answer Answer
Choose the most-preferred product only. Give a score to each product in turn (NL: om de Choose the most preferred product, then the
beurt). second most preferred product, until the least
preferred product
12 11 10
Answer Answer Answer
not realistic ☺ ratings are informative of the intensities of Ranking-based DV: ordinal response
some trade are made (but not as much as with preferences Method of estimation: monotonic regression
choice) ☺ easy to implement and estimate ( you need Rating-based DV: rating responses
all products are considered (have to rate a lot) less respondents to evaluate) Method of estimation: Linear regression (OLS)
different response styles Choice-based DV: Qualitative responses (choice)
implications not clear Method of estimation: maximum likelihood
no choice option is not allowed (conditional logit)
15 14 13
Answer Answer Answer
☺ realistic (mimic to real life) Implications for sales levels and market shares are Personal response styles can induce spreading in
☺ trade of are enforced more not clear. Sales and shares results from consumer’s ratings that has nothing to do with preferences.
☺ less cognitive demanding choices, not ratings Not clear whether spread in ratings is due to real
☺ No subjective scaling preferences or due to response style.
☺ can implicate market shares
☺ no choice option is allowed
Give Explain Give
The formula of a choice-based conjoint 𝑐ℎ𝑜𝑖𝑐𝑒𝑘𝑖 = 𝛽1𝑘 ∗ 𝑎𝑡𝑡𝑟𝑖𝑏𝑢𝑡𝑒1𝑖 + 𝛽2𝑘 ∗ 3 disadvantages of choice-based conjoint
𝑎𝑡𝑡𝑟𝑖𝑏𝑢𝑡𝑒2𝑖 + 𝛽3𝑘 ∗ 𝑎𝑡𝑡𝑟𝑖𝑏𝑢𝑡𝑒3𝑖 + 𝜀𝑘𝑖
Why is there an i behind the attribute Compared to rating based
and a k behind the beta.
4 Session 1 5 Session 1 6 Session 1
Explain
Explain Give and explain
𝑐ℎ𝑜𝑖𝑐𝑒𝑘𝑖 = 𝛽1𝑘 ∗ 𝑎𝑡𝑡𝑟𝑖𝑏𝑢𝑡𝑒1𝑖 + 𝛽2𝑘 ∗ 3 outcomes of an conjoint analysis
𝑎𝑡𝑡𝑟𝑖𝑏𝑢𝑡𝑒2𝑖 + 𝛽3𝑘 ∗ 𝑎𝑡𝑡𝑟𝑖𝑏𝑢𝑡𝑒3𝑖 + 𝜀𝑘𝑖
Why don’t we use 𝜷𝟎
What are the utilities for these
attributes?
7 Session 1 8 Session 1 9 Session 1
Calculate
Give Give and explain
The formula of attribute importance 3 levels of conjoint analysis
the attribute importance of the 2
attributes
10 Session 1 11 Session 1 12 Session 1
Give Give Give
1 advantage and 1 disadvantage of 2 advantages of segment level 2 advantages and 1 disadvantage of
aggregate level individual level
13 Session 1 14 Session 1
Give Explain
3 levels of conjoint analysis and the What a choice simulator can do
method that belongs to it
MADE BY : M IRTE VAN SCHAIJK
Page 3 of 29
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