| Abstract: | This paper presents a simple methodology to enable a firm to incorporate consumers' subjective evaluations early into the concept screening stage of a new product introduction process. The methodology involves eliciting ranked preference judgments toward a set of alternative product concepts, each described as a profile of attributes and derived from an interval-scaled utility score using Thurstone's comparative judgment model. The derived utility scores are then decomposed into simple effects attributable to each of the attributes, thus yielding functional representations of consumer preferences. Mathematical models are developed to utilize the functions to determine the best concept. Empirical illustrations are provided for application of the methodology. |
