Simple conjoint analysis example by Conjoint.ly
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A simple conjoint analysis example in Google Sheets
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Prepared for educational purposes by Conjoint.ly on 1 October 2019.
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Available from:
https://conjoint.online/2019/10/01/simple-conjoint-analysis-example-excel/
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Conjoint analysis (also called trade-off analysis) is used in many social sciences and disciplines, including marketing, product management, and pricing. In this post, we provide a conjoint analysis example in Google Sheets (also available as an Excel conjoint example). This example will show:
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1. Inputs into a conjoint study
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2. Conjoint questions (a.k.a. experimental design)
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3. Calculations of partworth utilities (relative preferences and importance scores of attributes)
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This example is limited to:
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✔ Ten choice-based responses (even though in market research, we collect ~12 choices from 100 to 2,000 respondents);
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✔ Four attributes with two levels each (even though in practice, we can have up to a dozen attributes and up to several dozen levels);
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✔ A multiple linear regression (even though real conjoint tests we use hierarchical bayesian multinomial logit)
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✔ A fractional factorial design.
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1. Inputs
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Imagine we are evaluating feature of cow's milk sold through supermarkets with the following features:
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Brand:
Supermarket brand
Farm Gate™
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Pack format:CartonBottle
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Fat content:2%3%
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Price per litre:$2.05$2.55
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These are called "attributes".
These are called "levels" of attributes.
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In this example, we have 4 attributes with 2 levels each. However, commonly, we do research on more more levels and attributes.
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