Using Conjoint Data

The new market shares are as follows:A summary of the reduction in market shares is shown below:Select a target segmentThe new market shares by segment, is shown below.We also compared the changes in market share due to the release of the new beer brand, as below:The market shares for Segment 1 (‘Young and Happy’) for HH, BB, AL and SA have reduced as a result of the new brand, while for Segment 2 (‘Old and Mature’) market shares for HH, BB and SA have reduced..The new beer brand commands a market share of 4.10% among the ‘Young and Happy’ and 3.26% among the ‘Old and Mature’, making it slightly more profitable to target Segment 1 than Segment 2.Also, since this segment has the higher average income and higher average weekly consumption, it is a better pick given the two segments..Since there are significantly more number males in the dataset than females, it is likely that the above analysis is more applicable for males..Hence, the company could target the “Young and Happy, Male” 36 years of age with an annual income of USD 56–57k, consuming an average of 10 beer bottles on a weekly basis.ReferencesOrne, B..(2010)..Interpreting the Results of Conjoint Analysis..In B..Orne, Getting Started with Conjoint Analysis: Strategies for Product Design and Pricing Research (pp. 77–88)..Madison, Wis, USA: Research Publishers LLC.PPT Lab..(2014, Feb 25)..Why Consumers Dont Buy: Psychology of Product Adoption..Retrieved from PPT Lab: More details

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