This data is particularly useful in generating _____ gap maps. D) regression. B) preference A. Mitigation A. surrogate questions Conjoint analysis is a technique used by various businesses to evaluate their products and services, and determine how consumers perceive them. \text{Required investment in equipment } \ldots & \$400,000 & \$ 500,000 \\ a. The Cayenne was Porsche s first vehicle that is not a sports car. Gain new insights and knowledge from leading faculty and industry experts. C. everything should be keyed to a Go/No Go decision. There are various subcommands within this procedure:-The PLAN subcommand tells CONJOINT . _____ analysis, developed by Sawtooth Software, shows only a few attributes at a time to the respondent and adapts to the respondent as the conjoint exercise goes on. All of the following statements about the evaluation system/process are true EXCEPT: Capital Which method of analysis does not classify variables as dependent or independent? BMAL-590 Week 1 Section 4 Marketing Research, BMAL-590 Week 1 Section 5 Marketing Strategy, Ch. A) segmenting the market based on benefits sought from the purchase of a product. d.$96,100. Master real-world business skills with our immersive platform and engaged community. B. launch \end{matrix} Values of .60 or better are considered acceptable values of ________, the index of fit. Assess sensitivity to price. B) It is easy to identify respondents with homogeneous perceptions. 4. Conjoint analysis could be used for all of the marketing applications below Conjoint analysis could be used for all of the School New Life University Course Title MG 6073 Type Homework Help Uploaded By KidHackerFinch11 Pages 3 Ratings 100% (5) This preview shows page 2 - 3 out of 3 pages. \text{Depreciation on equipment (straight-line basis)} \ldots &38,000 & 45,000\\ B. Question: (MKTG 360) All of the following are fundamental assumptions of conjoint analysis except. D. development, 35. It evaluates products or services in a way no other method can. B) discriminant function Conjoint analysis methods use statistical analysis to compute mathematical representations of survey respondents' preferences for product . On the other hand, a company may find that its customers arent uniform in assigning value to different features. C) R-square Simulate Market Shares for Product Launches with Conjoint Analysis. Prove that fff attains maximum and minimum values. B) Regression analysis D) Both A and B are correct, 25. 12. Concept testing: concept testing is usually done when a new product idea has been developed, and its goal is to gauge consumer opinion on the product. D) varimax procedure, 35. Rockwell Collins is a manufacturer of avionics and communications systems for corporate aircraft. D. mitigation/avoidance. For example, consider a smartphone manufacturer that conducts a conjoint analysis and discovers its customers value larger screens over all other features. C) One sample t-test This is an example of, Hohner s ability to produce high quality harmonicas represents a(n), Hohner s constant struggle to control costs represents a(n), Entry into the US market by outside Japanese and Brazilian competitors represent a(n), he recent increase in growth of the market represents a(n). B) The set of independent variables includes two or more categorical variables D. Concepts related to a product whose prime benefit is a personal sense. The categories include all of the following EXCEPT: What type of marketing strategy best exemplifies a straightforward mapping of a product to a customer's willingness to pay? How is cluster analysis . D. require customers to rate choices on individual attributes. Positioning studies and perceptual maps are closely related to this marketing research technique ______. Choice of the relevant factors and their levels to describe the products. It is a predictive technique used to determine customers' preferences for the different features that make up a product or service. The ________ method is based on minimum distance or the nearest neighbor rule A) single linkage True False, 14. majorchange,transformationb.altered,revisedc. Which of the following factor(s) contribute to creating this challenge? Compute the cash received from the sale of its common stock during Year 2. a. 5. Which of the following does the marketing process of segmentation, targeting, and positioning (STP) NOT address? A. run on perceptions of overall similarities between pairs of brands. Building product profiles that vary in the level of offering on different attributes C. Statistical analysis D. Identify customers' utility on each product attribute E. Estimating profitability for a A) full-profile approach A) It is easier to label the dimensions. After enrolling in a program, you may request a withdrawal with refund (minus a $100 nonrefundable enrollment fee) up until 24 hours after the start of your program. D) Objects in each cluster tend to be similar to each other and dissimilar to objects in the other clusters. C) two-factor evaluations Benefit segments are most likely to be identified/described using the ____. Which is technique appropriate to be used? The conjoint analysis definition is a statistical technique to determine how people value different features of a product or service. C. measuring consumers attribute perceptions using a Likert-type scale. True False True 2. focuses on. 13. What is a performance obligation? C. trial averages B) one-way analysis of variance B. determinant B. Concepts related to consumer packaged goods. Which of the following statements is not true concerning conjoint analysis? A rolling evaluation means that the project is being assessed continuously, which implies that it is dealing with risk via ____. B) Cluster analysis is also called classification analysis or numerical taxonomy. Because of these advantages, conjoint analysis was used in the present study. Flow chart of the study population. In other words, it allows businesses to understand what factors are most important to customers when they are making a purchase decision. C. benefit segmentation This is an example of: Porsche repositioned its automobile brand via a gender-bending strategy "it launched a brand extension into the sports utility vehicle category, the Porsche Cayenne, to appeal to women, particularly suburban soccer moms. It is also used to discover employee preferences for benefits. Which one of the following is NOT a stage in the Product Life Cycle? Which of the following statements is true regarding surrogate questions? A. C. it proceeds in a straight-line, step-by-step fashion. When constructing conjoint analysis, full or complete profiles of brands are constructed for all the attributes in (the) ________. On the basis of your analysis in part a, state which proposal you would recommend and explain the reasons for your choice. Which of the following choices is NOT one of the steps that Shapiro has defined in the marketing process? B. decay Psychological /Psychographic segmentation variables are closely related to ______. D. confirm the target market. What strategy was the new CEO at JCPenney seeking to implement given the generic strategies found in the Chapter. B. lists the guidelines for developing the new product. In determining how different price levels will affect a household's cereal consumption, it may be essential to take household size (number of members) into account. What is a Conjoint Analysis? What role do past costs play in relevant costing decisions? A) Frequency distribution. D. function. 45. View full document Document preview View questions only 8. Competitor A. The ideal goal for the marketer is to find a(n) ______ group of customers whose needs they can easily and profitably meet. 31. B) Assessing advertising effectiveness-spatial maps can be used to determine whether advertising has been successful in achieving the desired brand positioning. D) none of the above, 41. Whether or not the product will be priced at a premium. True False True 3. A) Cross-tabulation shows more information than the frequency distribution B) Cross-tabulations provide inferences for making statements about the means of parent populations C) Cross-tabulation tables are also called contingency tables B 4. D) evaluation of the accuracy of classification. D) Multidimensional scaling (MDS)Conjoint analysis could be used for all of the marketing applications below except ________. C. developmental This approach is an example of what type of segmentation? Conjoint analysis is an approach used to achieve preference-based segmentation by: forcing consumers to make trade-offs between pairs of products with different attributes. Which of the following is a statistical technique available in computer packages that is typically used to reduce the large number of attributes to a small number of underlying dimensions? Two proposals are currently under consideration. Unit sales for the new item that can affect the net impact on the company's own margins can come from all the sources given below EXCEPT: After seeing increased competition, and in an effort to increase sales and profitability, Wonder Bread wants to extend its product mix breadth. All options would be acceptable EXCEPT: Toyota can build a new sports utility vehicle (SUV) on the same platform as its trucks, and it has capacity to manufacture a new model, so it makes sense for Toyota to proceed with the new SUV pending research results and other considerations. The accounting department of Chilton Resort and the manager of Marengo have assembled the following data regarding the two proposals: Proposal1Proposal2Requiredinvestmentinequipment$400,000$500,000Estimatedservicelifeofequipment10years10yearsEstimatedsalvagevalue$20,000$$50,000Estimatedannualcostsavings(netcashflow)80,00095,000Depreciationonequipment(straight-linebasis)38,00045,000Estimatedincreaseinannualnetincome? A) How much of the variation in sales can be explained by advertising expenditures, prices, and level of distribution? We make use of a consumer survey to analyze the impacts, mainly on usage patterns, of introducing electric vehicles into the existing automobile market using conjoint analysis. In addition, auditors were asked to review the claim files to indicate whether specific elements of fraud or buildup appeared in the claim and, in the case of buildup, to specify the amount of excess payment. C. Cluster analysis D) Both A and B are correct, 34. Factor analysis ________ is a statistical procedure for analyzing associative relationships between a metric dependent variable and one or more independent variables? B) Stress D. lexical analysis, 38. Factor analysis can be used in which of the following circumstances? 14,17,13,16,15,12,13,12,13. B. C. How likely is it that the respondents would buy? developing new conflict resolution techniques. C) correlation coefficients. A) determination of which predictor variables contribute to most of the intergroup differences. A firm should consider three key factors when choosing a target segment, including not only the external factors of competition and segment characteristics but also the firm s internal: When conducting a five Cs analysis and developing the context, which factor should NOT be included in the analysis? : An Update on Current Practice in the Published Literature between 2005 and 2008 Conjoint Analysis Applications in Health - How are Studies being Designed and Reported? 2. Conjoint analysis is a statistical method used to determine how customers value the various features that make up an individual product or service. Two major issues make up the essence of the sales force: How many salespeople should we have, and _____. B. perform full screening and begin development. C. fundamental analysis A) analysis of covariance (ANCOVA) Which is NOT one of the four classes of goals? situation,conditionf.purpose,duty. They are used to model and forecast time series data with temporal dependencies. 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The sale of its common stock during Year 2. a or NOT the product will be priced at premium... C. measuring consumers attribute perceptions using a Likert-type scale analysis was used which! Segments are most important to customers when they are making a purchase decision true concerning conjoint analysis except below ________... Between pairs of products with different attributes with risk via ____ Concepts related to this marketing Research technique.! And perceptual maps are closely related to ______: How many salespeople should we have, and _____ of.! Customers when they are used to discover employee preferences for product Launches with conjoint analysis except it in... Sought from the sale of its common stock during Year 2. a Both a and b are,. A metric dependent variable and one or more independent variables by advertising expenditures, prices and. Full document document preview view questions only 8 customers value larger screens over all features. 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