Conjoint Analysis – Meaning, Usage and its Limitations
February 12, 2025
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The sources of generating primary data are:
There are number of experimental designs that are used in carrying out and experiment. However, Market researchers have used 4 experimental designs most frequently. These are -
Blocks are formed in such a manner that each block contains as many plots as a number of treatments so that one plot from each is selected at random for each treatment. The production of each plot is measured after the treatment is given. These data are then interpreted and inferences are drawn by using the analysis of Variance Technique so as to know the effect of various treatments like different dozes of fertilizers, different types of irrigation etc.
A | B | C | D |
B | C | D | A |
C | D | A | B |
D | A | B | C |
The balance arrangement achieved in a Latin Square is its main strength. In this design, the comparisons among treatments, will be free from both differences between rows and columns. Thus the magnitude of error will be smaller than any other design.
In a true experiment, randomization is essential so that the experimenter can infer cause and effect without any bias.
While primary data can be collected through questionnaires, depth interview, focus group interviews, case studies, experimentation and observation; The secondary data can be obtained through
If available, internal secondary data may be obtained with less time, effort and money than the external secondary data. In addition, they may also be more pertinent to the situation at hand since they are from within the organization. The internal sources include
If the data available within the organization are unsuitable or inadequate, the marketer should extend the search to external secondary data sources.
External Sources are sources which are outside the company in a larger environment. Collection of external data is more difficult because the data have much greater variety and the sources are much more numerous.
External data can be divided into following classes.
The only disadvantage of the above sources is that the data may be biased. They are likely to colour their negative points.
In collecting data from household they use three approaches
Various syndicate services are Operations Research Group (ORG) and The Indian Marketing Research Bureau (IMRB).
Syndicate services are becoming popular since the constraints of decision making are changing and we need more of specific decision-making in the light of changing environment. Also Syndicate services are able to provide information to the industries at a low unit cost.
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