A REVIEW PAPER ON CONJOINT ANALYSIS TO THE FUZZY FRONT END OF A NEW PRODUCT DESIGN

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New products that deliver added consumer value contribute significantly to the success of companies. In the numerous studies of new product performance over the years, consensus has been developed that the understanding of consumer needs is of paramount strategic value, especially in the early stages of the product development process. During these early stages, the product has not yet been specified and the aim is to search for novel product ideas from a marketing and technological perspective. Despite their importance, several studies indicate that consumer research methodologies are underutilised in the early stages of new product development. The aim of this thesis is to analyse key issues and develop and illustrate appropriate use of consumer research methodology at early stages of the new product development process, as the most distinguishing characteristic of a successful product development project.

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