A User's Guide to the Galaxy of Conjoint Analysis and Compositional Preference Measurement

摘要

Academics and practitioners aiming to measure preferences for the first time are faced with a 'galaxy' of conjoint analytic and alternative compositional preference measurement approaches. Potential users are confronted with questions, such as how to determine which approach to use, how to set up a study that generates reliable and valid results and how to interpret these results. The aim of this paper is to provide guidance to these key challenges. Thus, the first objective is to guide potential users in the selection of appropriate preference measurement approaches. Second, we discuss important craft factors, i. e. design elements that substantially impact the validity of preference measurement results, such as the definition of attributes and levels and their introduction to respondents. Third, we provide users with practical guidance how to interpret conjoint results, evaluate the quality of empirical conjoint data, set up market simulations and discuss factors that influence the studies' external validity. Our paper, thus, serves as a user's guide to the 'galaxy' of consumer preference measurement and helps sensitize researchers towards potential pitfalls when conducting their own preference measurement studies.