Conjoint Analysis
Introduction
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.[1] 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 ...
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