Assessing Customer Preferences on a New Design of Refrigerator Using Conjoint Analysis

Abstract

Home appliances become necessities to continue a daily life of human beings. Since, home appliances are not just used to conduct daily life works but also to design or create a stylish appearance within the houses, they are purchased by almost all residents and, thus, demand increases. On the other hand, new entrance of retailers and producers to the market increases, simultaneously. Therefore, to stay influential in the market, marketing departments of the companies need to compete in a competitive rivalry. Within this context, marketers analyze the market using different methods to satisfy customers’ needs and expectations. Conjoint Analysis (CA) is one of the most important method to determine the importance of product or service attributes to customers, and the utilities that are delivered from these attributes to customers. In this chapter, the applicability of CA is experienced in home appliances industry by designing a new refrigerator. Obtained results are found to be reliable and satisfactory to retain competitive in the market, and the method may be used as a guide to determine the best design of home appliances (refrigerator) considering customer expectations, needs, and perceptions.