The repository contains up to 5 projects assigned in the course Advanced Marketing Analytics in 2022 Fall semester (Master Program: Marketing Analytics with UMD Smith Business School)
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New Product Development for Philips Coffee Makers/ Project 5 #7
● Conducted conjoint analysis to find out the importance (part-worth) of the 5 product attributes to different consumer segments when they make product choosing decisions, using a Mixture Multinomial Logit Model (Conjoint Choice Model)
● Trained the aforementioned model - in Glimmix - with a database consisting of 8*185 observations where 8 choice sets were presented to 185 respondents. Each choice set involve 3 alternatives selected among 16 product profiles
● Decided the respondents (market) shall be devided into 2 segment in a MECE manner by analyzing CAIC, BIC and Entropy statistics
● Selected the best segment for Philips by analyzing parameter estimates computed in Glimmix
● Figured out the optimal combination of the 5 attributes that address both the company's concerns and the target segment's demands
● Predicted the market share of the new product with the developed profile by utility analysis in EXCEL
nasirxia
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1 year ago
● Conducted conjoint analysis to find out the importance (part-worth) of the 5 product attributes to different consumer segments when they make product choosing decisions, using a Mixture Multinomial Logit Model (Conjoint Choice Model) ● Trained the aforementioned model - in Glimmix - with a database consisting of 8*185 observations where 8 choice sets were presented to 185 respondents. Each choice set involve 3 alternatives selected among 16 product profiles ● Decided the respondents (market) shall be devided into 2 segment in a MECE manner by analyzing CAIC, BIC and Entropy statistics ● Selected the best segment for Philips by analyzing parameter estimates computed in Glimmix ● Figured out the optimal combination of the 5 attributes that address both the company's concerns and the target segment's demands ● Predicted the market share of the new product with the developed profile by utility analysis in EXCEL