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We utilize various techniques, depending on the specific questions we are looking to address. Some of these are:

CHAID (Chi Square Automatic Interaction Detector)

This involves creating a decision tree model that tells us relative degrees of association between a dependent variable and a set of independent variables

 

Cluster Analysis

Used to classify respondents into market segments, i.e. set of consumers who are similar to each other but markedly different from their counterparts in other segments. The segment characteristics determine marketing strategy for that segment, as different from other segments

Conjoint Analysis

An advanced technique used to identify the optimal bundle of product features that have maximum influence on consumer purchase or preference decisions. We study the trade offs between alternate combinations of attributes to gauge purchase motivations. This can have various forms like Adaptive (ACA) or Choice Based (CBC)

Key Driver Analysis

Uses regression/logistic regression to identify the most important factors among multiple factors influencing the target/dependent variable

Factor Analysis

Helps to explain a large set of interrelated variables in terms of their underlying dimensions or “factors”. Essentially used to bring down a large number of attributes to a more manageable smaller set of factors

Perceptual Mapping

Graphical technique used to depict relationship between brands and their ratings on various attributes. The closer a brand appears to an attribute, more is its association with that attribute. Brands placed closer to each other have similar images

Regression Analysis

Technique used to find relative contributions made by different attributes in predicting a dependent variable

TURF Analysis

Used to determine the combination of products in a line that can achieve the highest level of consumer interest

Max Diff Analysis

A variation of conjoint analysis used to generate importance or preference scores for brands/attributes/concepts. It gives a clearer idea of what matters more to the consumer