CONJOINT ANALYSIS: A SUITABLE STATISTICAL TOOL TO APPLY IN MARKETING RESEARCH (Pages 01-08) by Dr. E. B. Khedkar in THE INTERNATIONAL MANAGER / ISSN: 2348-9413 (Online); 2348-9405 (Print)

Conjoint Analysis is a statistical Tool used in Market and Marketing research to evaluate the Feature, Function and Benefits of the Product and how they are rating the value of them. As example, a television may have different attributes of screen size and format, various brand, different price, etc. Each attribute can then be broken down into a number of levels may be LED, LCD, or Plasma. Consumers will see them as close substitutes, but dissimilar enough that respondents can clearly determine a preference decision making to purchase. It is also called ‘Multi-Attribute Compositional Model’ and ‘Preference Analysis’ also. It is a statistical tool originated in ‘Mathematical Psychology’. It is used in Market research and Marketing research, Product Management, Product positioning, Service design, in Advertisements, operation research and for various practical uses in applied and social sciences. In this study it is reflected the importance of Conjoint Analysis as a tool for Marketing Research and supporting that various examples and criteria of it are given. The study is based on the Analysis with the help of Secondary data. Keywords: Conjoint Analysis, Marketing Research, Decision Making, Preference Analysis.