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Lecture 8

MGMA01H3 Lecture Notes - Lecture 8: Conjoint Analysis, Test Market, Sports Equipment


Department
Management
Course Code
MGMA01H3
Professor
Sam J Maglio
Lecture
8

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2018-03-19
Product (Cont.)
Conjoint analysis; idea evaluation
Simulated test marketing: development stage
Test marketing: commercialization stage
3 techniques for new product development (NPD)
1. Conjoint analysis (product not made)
Golf industry: new product is a new golf ball
Top two most important attributes; driving distance and ball life
i. Consumers do not answer what is most important directly as they could give
flawed or vague answers
ii. Instead they do a survey/ranking of the balls (see chart)
1. Buyer one thinks that distance is more important
2. Buyer two things life is more important
iii. One product (if 90% of ppl only care about one attribute), or two products (if
40/60 split on the attributes)?
2. Simulated test marketing (STM): prototype created
Convenience sample: possibly skewed sample
Attrition: people drop out of the study
Steps:
i. Who to ask to participate in study
ii. Get information on the participants (familiarity with the product or similar
products)
iii. Do’t tell the aout ho you ork for (sree ads of yourself, but also of
competitors)
iv. Simulated shopping: give participants for money, go shop in a mock sporting
goods shop (what do people buy)
v. Debrief: get initial purchase rates (do people buy my products?), tell the
participants what the study is about, ask partiipats hy did or did’t they uy
it, people ho did’t uy it are gie a free saple
vi. Reinterview: how do people like the product? Will they buy it again (can be tried
again in mock store to see if people repurchase your product)
3. Test marketing
Goal: get experience with the market implementation
Goal 2: will it be successful on a larger scale?
find more resources at oneclass.com
find more resources at oneclass.com
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