Introducing Conjoint Analysis in Marketing Strategy

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It is suggested that 2013 may be the “Year of the Smartwatch“, as “the components have gotten small enough and cheap enough” and many consumers own smartphones that are compatible with a wearable device. Most smartwatches include features such as a camera, accelerometer, thermometer, altimeter, barometer, compass, chronograph, calculator, cell phone, touch screen, GPS navigation, Map display, graphical display, speaker, scheduler, watch, SDcards that are recognized as a mass storage device by a computer, and rechargeable battery.

It may communicate with a wireless headset, heads-up display, insulin pump, microphone, modem, or other devices. The compatibility of smartwatch varies across brands, and they mostly are compatible with multiple O/S, such as iOS, Android, and have dozens to hundreds of Apps available.

As of Feb 2014, the list of companies that were engaged in smartwatch development activities and have already offered products in the market, consists of Sony, Samsung, Pebble, Martian, I’m Watch, ConnecteDevice Cookoo, Meta Watch, Neptune, Sonostar, etc. Prices are known to vary across brands, ranging from $80 to $450. Google entered in March 2014. A few more companies (in rumors: Apple, LG, Microsoft, Lenovo, HTC and Nokia, etc.) are speeding up to introduce their products into the market.

By introducing the Conjoint Analysis for Smartwatch, students would have better visualized and statistical understanding of conducting new product design analysis. Given over 40 respondents from both of my Principles of Marketing class, and Marketing Strategy class, we have a clearer idea of the expectation of consumers in smartwatch market. Students in Marketing Strategy class developed their own questionnaire, product design, features, market decisions and conducted in-depth analysis in 6 national brands, ranging from apparel, accessible luxury, consumer electronic, toys, and fast-food products. Expect their work!

Sharing some brief results from smartwatch Conjoint Analysis:

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Spend one day on Business Analytics?

IBM Business Analytics Summit 2014
Columbus
March 11, Tuesday

Agenda

Business Analytics Summit 2014
7:30 – 8:30 a.m. Registration, Breakfast, and Solutions Showcase Open
8:30 – 9:30 a.m. General Session
9:30 – 9:45 a.m. Break/Solutions Showcase
Tracks Track 1: How to Enable an Analytics Driven Enterprise Track 2: Applying Analytics to Your Business Imperatives Workshops
9:45 – 10:25 a.m.10:40 – 11:20 a.m.

11:35 – 12:15 p.m.

Visualization: Creating effective visualizations to harness insight from increasingly complex dataForward-looking business intelligence: How to create a panoramic view of your business

Making predictive analytics part of your business processes

Marketing delivers with a data-driven approachGame on: Creating “markets of one” with personalization

Reduce costs by predicting physical asset failure

IBM Predictive Analytics Workshop
12:15 – 1:05 p.m. Lunch Break / Solutions Showcase
1:10 – 1:50 p.m.2:05 – 2:45 p.m.

2:45 – 2:45 p.m.

3:40 – 3:40 p.m.

Creating the most valuable reports and dashboards for your
organizationTeamwork: Creating a social,
collaborative, and mobile
environment out of your
performance management
processesEvent Close (for breakouts)Event Close (for workshop)
Attract, manage and
retain outstanding human capitalAnalyze social media
data to really know your
customers
IBM Dashboard Design Proven Practices Workshop

MKTG3100 New Shoes companies

Here are the grouping information for New Shoes Simulation companies.

Groups for MKTG 3100 Section 01 (8:00am morning section):

Group A:

Kayla Bean
Donovan Crippen
Timothy McClain

Group B:

Jennifer Davis
Zach Ensman
Nate Lawrence

Group C:

Hannah Delemeester
Ben Hamilton
Emma Shipkowski

Group D:

Rachel Kerr
Greg Moomaw
Tiffany Patterson

Group E:

Mackenzie Majeskie
Michael Williams
Houlin Zhou
Morgan Feeney

Group F:
Alex Port
Conner Schmidt
Myranda Wolfe

 

Groups for MKTG 3100 Section 02 (1:15pm afternoon section):

Group A:

Sean Allen
Caitlin Stewart
Eric Wolff

Group B:

Karen Brady
Katie Jump
Luke Kindelin

Group C:

Jenna Kelly
Cal Thompson
Binwei Yang

Group D:

Megan Foust
Connor Lucas
Yongjun Zhi

Group E:

Christina Rossi
James Waterwash
Kyle Belback

Group F:

Sean Brewster
Alec Boggs
Breanne Shrigley
Haowen Yu

Please know each other better by exchanging contact information. Each team needs to assign a leader, and name your company. Email me with your company name and leader’s name by Tuesday, Feb. 11.

Marketing Strategy tasks assigned

12 packages, 6 Marketing Strategy tasks: assigned, according your brand preferences.

Panera Bread: Maggie, Beth
Lego: Matty, Audra
Red Bull: Erin, John
Sony PS3: Aaron, Pat
Coach: Jackie, Sangsang
GAP: Drew, Lisa

marketing strategy

6 project topics assigned

6 cases, 6 presentations: selected, randomly. Expect your work!
Case A USA Today – John, Pat
Case B Zappos – Matty, Lisa
Case C Starbucks – Aaron, Maggie
Case D IKEA – Erin, Jackie
Case E Groupon – Beth, Audra
Case F Sushilious – Sangsang, Drew