It is best to start the analysis at the market level (i.e. treating all customers as belonging to a single segment) before evaluating the possibility of creating different optimal products for different customer segments, where customers in each segment share similar part-worth profiles.
If the Conjoint part-worth data are obtained from a reasonable number of respondents (say 50 or more), it would be useful to explore such segmentation. If there are distinct and meaningful segments, Conjoint simulations could be executed separately for each customer segment.
The firm could then assess whether its overall performance/profitability is enhanced by offering products with specific features desired by one or more segments.
The Segmentation module in Enginius allows identification of segments based on partworth.
One thing to keep in mind when executing segmentation is not to standardize the data before analysis. This is because part-worth data incorporate the relative importance of each part-worth compared to the other part-worths and this information would be lost through standardization.
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