FLASHCARDS CONJOINT ANALYSIS 2017-2018 SEND TO: STUVIA
1 Session 1 2 Session 1 3 Session 1
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
7 Session 1 8 Session 1 9 Session 1
Explain Explain Explain
Ranking-based conjoint rating-based conjoint choice-based conjoint
10 Session 1 11 Session 1 12 Session 1
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
MADE BY : M IRTE VAN SCHAIJK
Page 1 of 29
, FLASHCARDS CONJOINT ANALYSIS 2017-2018 SEND TO: STUVIA
3 2 1
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
6 5 4
Answer Answer Answer
Choice-based conjoint analysis 1. Ranking-based 1. Product (stimuli) Smart watch
2. Rating-based 2. Product attribute bracelet color
3. Choice-based 3. Attribute level blue, white, red
9 8 7
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
MADE BY : M IRTE VAN SCHAIJK
Page 2 of 29
, FLASHCARDS CONJOINT ANALYSIS 2017-2018 SEND TO: STUVIA
1 Session 1 2 Session 1 3 Session 1
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
1 Session 1 2 Session 1 3 Session 1
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
7 Session 1 8 Session 1 9 Session 1
Explain Explain Explain
Ranking-based conjoint rating-based conjoint choice-based conjoint
10 Session 1 11 Session 1 12 Session 1
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
MADE BY : M IRTE VAN SCHAIJK
Page 1 of 29
, FLASHCARDS CONJOINT ANALYSIS 2017-2018 SEND TO: STUVIA
3 2 1
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
6 5 4
Answer Answer Answer
Choice-based conjoint analysis 1. Ranking-based 1. Product (stimuli) Smart watch
2. Rating-based 2. Product attribute bracelet color
3. Choice-based 3. Attribute level blue, white, red
9 8 7
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
MADE BY : M IRTE VAN SCHAIJK
Page 2 of 29
, FLASHCARDS CONJOINT ANALYSIS 2017-2018 SEND TO: STUVIA
1 Session 1 2 Session 1 3 Session 1
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
