A Study on Application of Conjoint Analysis in Evaluating Alternatives for Retail Property Development -Based on the Case of Retail Property Development in Bundang and Pangyo Area- (컨조인트 분석을 활용한 상업시설 개발대안평가에 관한 연구 -분당, 판교지역에서의 상업시설개발을 중심으로-)

Kang Myung Soo (강명수); Jong-chil Shin (신종칠)

A Study on Application of Conjoint Analysis in Evaluating Alternatives for Retail Property Development -Based on the Case of Retail Property Development in Bundang and Pangyo Area-

Korea Real Estate Review
2011, 21(1), pp.31-50
Publisher : korea real estate research institute
Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

Kang Myung Soo ¹, Jong-chil Shin ²

¹한성대학교
²건국대학교

Accredited

ABSTRACT

Conjoint analysis is widely used in the field of marketing as a way to understand and incorporate the structure of consumer preferences into the new product design process. Conjoint analysis attempts to determine the relative importance consumers attach to salient attributes of new product and the utilities they attach to the levels of attributes. The utilities derived from conjoint analysis can be used as input into a choice simulation to determine the share of choices, and hence the market share of different product alternatives. It is based on the simple premise that consumers evaluate the value or utility of a product or service by combining the separate amounts of utility provided by each attribute. Also, it is based on the premise that the relative utilities of attributes considered jointly can better be measured than when considered alone. This study suggests developers can use conjoint analysis in evaluating their development alternatives to increase consumers' acceptability of their retail properties and possibility of successful development. With empirical research, this study shows developer can understand the relative importance of attributes that consist of their development alternatives and find out an ideal retail property alternative through conjoint analysis. And this study shows that developers can estimate market share for the competitive retail properties and new simulated retail property by using choice simulation before they actually develop their retail properties.

KEYWORDS

retail property, conjoint analysis, choice simulation

Citation status

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