Choice based diffusion model for predicting sales of mobile phones using conjoint analysis

The modeling of understanding consumers buying behavior requires a technique, which does not only incorporate the preferences of the consumers but also have the ability to trade-off between multi-characteristics products and services. This study is supported by evaluating a framework via a marketing research technique of Conjoint Analysis wherein we have shown how certain attributes of mobile phones when studied jointly can affect the overall buying behavior of the youth towards various brands taken into consideration. Further, customers' choice probabilities of the mobile phones, based on preferences have been evaluated and potential market size is determined. Also, this study has determined and forecasted the sales on the basis of choice probability and utility obtained via conjoint analysis. Customers of the mobile phone located in Delhi have been targeted for this study.