Technometric Benchmarking: Identifying Sources of Superior Customer Value

Multi-attribute models are popular aids in developing marketing strategies to enhance customer value. These models rely on self-reported measures of importance of product attributes and the scores of competing brands on these attributes. In this paper, we introduce technometrics as an extension of multi-attribute models. Technometrics is a benchmarked approach to measure the scores of competing brands on a set of attributes. It can be used as an aid in selecting appropriate strategic tools along the price and quality dimensions for existing and modified brands. Importantly, with rapid globalization of numerous product-markets, there is an increase in the importance of measuring competitiveness of international firms objectively. We provide an illustration for the use of this technique, which combines objective and subjective product assessments, in the executive jet industry