Attribute Importance Weights Modification in Assessing a Brand's Competitive Potential

Abstract

Increasingly, researchers in marketing are recognizing the “lability” of attribute importance weights derived from measurement techniques, such as conjoint analysis. As has been suggested by Simonson and Tversky, attribute importance weights can be sensitive to competitive product context and to purchase situation. This paper describes and applies a procedure for adjusting conjoint importance weights to predict consumers' actual or potential product choices. We discuss the approach from both a descriptive and prescriptive viewpoint. In particular, the latter perspective provides strategic insights into how attribute importance modifications can increase brand share. An industry case, based on real data, is used to illustrate the approach.