Podcast
Questions and Answers
What are the five basic steps in a conjoint analysis as described in the text?
What are the five basic steps in a conjoint analysis as described in the text?
- Defining the attributes and attribute levels, presenting the stimulus, measuring the response, setting the evaluation criterion, and analyzing the data (correct)
- Defining the attributes and attribute levels, presenting the stimulus, analyzing the data, evaluating markets, and measuring the response
- Analyzing the data, defining the attributes and attribute levels, setting the evaluation criterion, presenting the stimulus, and measuring the response
- Presenting the stimulus, setting the evaluation criterion, measuring the response, defining the attributes and attribute levels, and evaluating products
When did conjoint analysis become a routine technique for market researchers?
When did conjoint analysis become a routine technique for market researchers?
- 1964 (correct)
- 1995
- 1988
- 1976
What is the purpose of segmenting the market as mentioned in the text?
What is the purpose of segmenting the market as mentioned in the text?
- To identify prices for different product compositions (correct)
- To measure response to stimuli
- To define attribute levels for products
- To evaluate customer preferences
How has conjoint analysis been valuable to executives according to the text?
How has conjoint analysis been valuable to executives according to the text?
Why is it important to set prices in proportion to value according to the text?
Why is it important to set prices in proportion to value according to the text?
What does the demand at any given price represent in the context of pricing?
What does the demand at any given price represent in the context of pricing?
How is the relationship between value and price described in many markets according to the text?
How is the relationship between value and price described in many markets according to the text?
What is the key factor emphasized when discussing pricing from the customer's perspective in the text?
What is the key factor emphasized when discussing pricing from the customer's perspective in the text?
What material are the Dayton exhaust fans made of?
What material are the Dayton exhaust fans made of?
Which wall-mounted sculpture is considered value disadvantaged?
Which wall-mounted sculpture is considered value disadvantaged?
What is the price of the sculpture 'Pi Construct' per square inch?
What is the price of the sculpture 'Pi Construct' per square inch?
How are the partial utilities of mango juice offerings related to conjoint-identified prices?
How are the partial utilities of mango juice offerings related to conjoint-identified prices?
Why is there a huge price difference between sedans like the Tata Nano and the Bentley Flying Spur?
Why is there a huge price difference between sedans like the Tata Nano and the Bentley Flying Spur?
In pricing decisions, what is value-based pricing primarily based on?
In pricing decisions, what is value-based pricing primarily based on?
How does customer perception of value influence pricing according to the text?
How does customer perception of value influence pricing according to the text?
What is highlighted as a guiding principle in many strategic and tactical pricing actions in the text?
What is highlighted as a guiding principle in many strategic and tactical pricing actions in the text?
