In product innovation, a company needs information about consumers, existing products and the competition to build-on when developing its ideas, concepts and designs for candidate products. It is usually a multi-stage process that involves planning, research (i.e., market, consumer & product), development and testing wherein information from different sources is likely to flow-in all the… Read More
Conjoint and MaxDiff: Choice-Based Methods for Measuring Consumer Preferences
Choice-Based Conjoint and MaxDiff (i.e., Maximum Difference, also known as Best-Worst scaling) are advanced methods for measuring and estimating consumer preferences by means of choice experiments and discrete choice models. Conjoint Analysis is a veteran methodology, initiated in the early 1970s, for measuring multi-attribute consumer preferences, based on ranking order or rating evaluations of product… Read More
Understanding Consumer Approach to Transformational Vehicle Technologies
Two important technological developments with transformational power in vehicles are taking place side-by-side: electric vehicles (EV) and autonomous vehicles (AV). They have the power of transforming consumers’ experiences of driving their cars, or travelling as passengers, and maintaining them, possibly changing the way consumers perceive passenger vehicles in whole. The purposes and functionalities of the… Read More
Consumer / Shopper / Customer Behaviour 