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Article

Open Access

Model of Simulation for Optimizing Marketing Mix Through Conjoint Analysis Case Study: Launching a Product on a New Market

Author(s)

Luminita Pistol, Rocsana Bucea-Manea-Tonis

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DOI:10.17265/2328-7144/2017.04.003

Affiliation(s)

Spiru Haret University, Bucharest, Romania

ABSTRACT

This paper applies conjoint analysis approach to simulate and determine the optimal marketing mix for a Romanian company that struggles to face the market higher competition. The company intends to launch its product into a new market and surveys the likelihood of getting international. The survey helps the company to gather information from clients regarding product characteristics, price, method of distribution, and promotion, according to customer preferences. Having these data, it is made a marketing simulation using conjoint analysis in order to get the optimal marketing mix in launching the product on a new market. The optimal marketing mix is given by the highest mix of utility for the clients, but sometimes the marketing manager would choose a little bit lower utility mix, forced by the company restrictions. corporate responsibility program. ductive capacity, and for raising and maintaining social stability level.

KEYWORDS

marketing simulation, marketing mix, conjoint analysis, launching a product on a new market

Cite this paper

Economics World, July-Aug. 2017, Vol. 5, No. 4, 311-315 doi: 10.17265/2328-7144/2017.04.003

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