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| Author: | Michalek, J.J. (et al.) |
| Title: | Enhancing marketing with engineering: Optimal product line design for heterogeneous markets |
| Journal: | International Journal of Research in Marketing
2011 : MAR, VOL. 28:1, p. 1-12 |
| Index terms: | marketing engineering industry products markets models conjoint analysis |
| Freeterms: | heterogeneity decomposition choice analysis hierarchical Bayes design optimization product line design |
| Language: | eng |
| Abstract: | A balance btw. technical and market tradeoffs is often required for successful product line design and development. This study presents a unified methodology for product line optimization coordinating positioning and design models to achieve realizable firm-level optima. The method is demonstrated for a line of dial-readout scales, using physical models and conjoint-based consumer choice data. The results show that the optimal number of products in the line is not necessarily equal to the number of market segments, that an optimal single product for a heterogeneous market differs from that for a homogeneous one etc. The method is managerially valuable due its' production of product line solutions efficiently, accounting for marketing-based preference heterogeneity and engineering-based constraints with possibly realized product attributes. |
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