The consumer preferences for new styrax based perfume products using a conjoint analysis approach

Abstract

Thousands of tons of raw styrax resin are exported, while various derivative products with millions of dollars in value are imported for centuries. Tobarium Styrax Perfume is the first domestic product that explores the styrax essential oil formula for signature perfumes. The objective of study is to determine consumer preferences for a new styrax based perfume product. A conjoint analysis approach was utilized to determine consumer preferences for these innovation products. Fifty consumers were asked to provide an assessment of the combination of perfume products. Data processing was assisted by computer with SPSS 14.0 program. The influence of five product profiles on consumer preference including scent variant, package, volume, grade of essential oil, and prices were examined. The results show that higher utility values indicate greater preference. The highest utility value is indicated by factor grade (essential oil concentration), this illustrates the respondents’ greatest preference for the quality of signature perfume. The scent variant (importance value 53.958) has the most influence on overall preference. This means that there is a large difference in preference between product profiles containing the most and the least desired scents. This is because the preference for a particular scent is personal and unique which might have affected the perception of respondents. The highest consumer’s preference is a perfume with scent Rizla, package spray, volume 25 mL, grade signature perfume and price IDR 120,000. The grade and price play a significant role but not as significant as scent variant. Two statistics, Pearson’s R and Kendall’s tau, provides high correlation between the observed and estimated preferences. This information is expected to encourage this domestic innovation product development.