The inside front and back covers of the new edition of Statistics for Experimenters has a number of aphorisms relating to design of experiments. Along those lines, to find out what your customers prefer via marketing studies, it is a good idea to ask them. One way to ask is to introduce a new product or service and see if it flies. A conjoint analysis has three parts: a designed experiment, the statistical analysis of the resulting data and the business decisions based on the analysis. These steps can be illustrated using one of their recent projects. In a conjoint experiment, each respondent rates a set of profiles. Getting interpretable results under such constraints required a cleverly constructed designed experiment. Knowing the relative value consumers place on various product attributes is essential to the successful launch of a new product or service.
|Number of pages||3|
|Journal||ASQ Six Sigma Forum Magazine|
|Publication status||Published - May 2008|
- Design of experiments (DoE)
- Conjoint analysis
- Stella Artois