Consumer Preference Analysis for Automotive Features PPT

This PPT slide, part of the 109-slide Market Research Method PowerPoint presentation, outlines a structured approach to conducting market research through a process known as conjoint analysis. The primary objectives are twofold: first, to assess the relative importance of various car features from a consumer perspective, and second, to create a predictive model that estimates market share based on combinations of these features.

The process begins with the development of car descriptions using statistical techniques that simulate various feature combinations. This allows researchers to gauge consumer preferences effectively. Following this, targeted interviews are conducted with potential car buyers. Participants are asked to evaluate several car descriptions and indicate their likelihood of purchase, providing valuable insights into consumer behavior.

Next, the analysis focuses on quantifying the value assigned to each car feature. This is achieved by calculating the variance in the likelihood percentages that consumers attribute to different features, which helps in understanding what drives purchasing decisions.

Finally, the "likely share" model synthesizes all gathered data to predict how much market share a car could capture based on consumer spending patterns and the perceived value of its features. This comprehensive methodology not only aids in understanding consumer preferences, but also equips decision-makers with actionable insights for product development and marketing strategies. The structured nature of this process ensures that the findings are robust and can inform strategic decisions effectively.

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