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Data Analytics for Marketing
book

Data Analytics for Marketing

by Guilherme Diaz-Bérrio
May 2024
Beginner to intermediate content levelBeginner to intermediate
452 pages
11h 32m
English
Packt Publishing
Content preview from Data Analytics for Marketing

10

Conjoint Analysis with pandas and Statsmodels

Conjoint analysis is a multivariate technique used to evaluate customer responses and preferences towards specific combinations of product attributes that simulate potential products.

Just asking customers what they want is not enough. Customers usually want everything, but they are not willing to pay for everything. Conjoint analysis avoids this problem by asking customers to choose between two or more product bundles that differ in the levels of the product attributes. It can also be used to evaluate customers’ willingness to pay for different product attributes.

In this chapter, you will cover the following topics:

  • An introduction to conjoint analysis
  • Setting up a conjoint study
  • Conducting ...
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Publisher Resources

ISBN: 9781803241609Supplemental Content