Discussion Includes Initial Post And 2 Replies

Week 6

In this week's chapter, I learned the importance of customer satisfaction and why it is important to have good customer relationship. To satisfy the customer company should continuously focus on research on their needs and wants. To learn about customers different research techniques are used. I found marketing research techniques very interesting. The most popular research techniques used in marketing are cluster analysis, perceptual mapping, focus groups, conjoint analysis, and surveys. Cluster analysis is the method that is used to group similar objects into respective categories. It will help to identify specific groups within a population. Perceptual mapping is a technique used to compare different products and identify gaps in the market and demonstrate how the brand is positioned against competitors. A Focus group is a research method where a small group of people gathers to provide feedback regarding a product and services. Conjoint analysis is a research technique that helps to measure what customer’s value most about the product and services and lastly survey helps to collect feedback from the target audience. It is an affordable as well as a reliable way to gather information.

In conjoint analysis, products are broken down into attributes and those attributes are tested to identify what customers prefer. Pizza can be made by combining many ingredients. If I have to design conjoint for b school cafe I would have designed in the following way. In the following table, pizza is sorted into four attributes that is pizza base, crust, topping, and veg/non-veg and given four options with combinations. 

Types	Option 1	Option 2	Option 3	Option 4
Pizza Base	Wheat	White	Wheat	White
Crust	Thick	Thin	Thin	Thick
Topping	Plain Cheese	Extra Cheese	Extra Cheese	Plain Cheese
Veg and Non-Veg	Vegetable	Sausage and Green Pepper	Sausage and Green Pepper	Vegetable

 I will use the above conjoint and measure what the café manager and students will order more frequently from given 4 options. I will use conjoint analysis of the above combination to see what the student’s value most in pizza base, crust, topping, etc. Also, I will ask them to rate the option. Designing conjoint will help me to know what students and college staff prefer while buying a pizza. To satisfy customer it is important to understand which aspects of the product are most valued and preferred by the customer. Conjoint analysis help to “ assess the relative importance of attributes, assess relative value by level, evaluate adoption potential, test the impact of new features, find optimal pricing, and profit potential customers”.

To make most of them happy I will focus on improving the quality of the most preferred option and make sure they are available to customers all the time.

Reference:

Retrieved from https://conjointly.com/guides/what-is-conjoint-analysis/