Understanding Customer Preferences through Conjoint Analysis PPT

This PPT slide, part of the 67-slide Supply Chain Strategy Tools & Techniques PowerPoint presentation, presents a framework for conducting a Conjoint Analysis, aimed at assessing customer preferences regarding various product or service attributes. It outlines when to use this method, specifically in scenarios where understanding the external environment is crucial. The definition clarifies that this survey research technique quantifies customer preferences, providing valuable insights into what features matter most to them.

The purpose section emphasizes the analysis's role in diagnosing and assessing the relative importance of specific attributes to customers. This is critical for organizations looking to align their offerings with customer needs effectively.

The graphical representation contrasts the importance ratings of attributes from 2 different respondent groups: clinicians and Glaxo respondents. The x-axis and y-axis display scales of importance, allowing for a visual comparison of how different attributes, such as "Low price" and "Support/service," are perceived by each group. This visual aids in identifying areas where there might be an internal underestimation or overestimation of customer needs.

Caveats listed at the bottom highlight limitations in the analysis. They stress that only a limited number of attributes can be compared and that those attributes must be at a similar level of importance for valid comparisons. Additionally, it points out that the variables should represent controllable items, which is essential for actionable insights.

This slide serves as a practical guide for executives considering implementing Conjoint Analysis to better understand customer preferences and improve product or service offerings.

This slide is part of the Supply Chain Strategy Tools & Techniques PowerPoint presentation.

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