In the first part of this section, I introduce conjoint analysis and how to implement a design and analysis in JMP. This will help with terminology, design concepts, and estimation issues, some of which are used in succeeding sections. A pricing scenario case study is used to illustrate how to define, conduct, and analyze a conjoint study.
Case Study: Tea Pricing
A tea manufacturer wants to develop, price, and market a new blend of tea. She has several options for a tea that is based on the key features or attributes of a tea:
Price (per ounce): $4.50, $5.25, $6.00
Form: bags, granulated, leaf
Variety: black, green, red
Caffeinated: Yes, No
The research question is: What is ...