Customer Analytics - Preference Measurement Explicit

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What is the purpose of Maxdiff scaling?

To get more refined scale properties

To reduce the attribute set further (correct)

To measure the preference strengths for various attribute levels

To reduce the attribute set using rating scales

What is the implication of pij in the preference measurement?

Log Importance(Attribute i) - Log Importance(Attribute j) = log 1-p (correct)

Importance(Attribute i) = Importance(Attribute j)

Importance(Attribute i) + Importance(Attribute j) = 1

Log Importance(Attribute i) + Log Importance(Attribute j) = log pij

What is the formula for the log importance difference?

Li / Lj = log pij

Li - Lj = log 1-p

Li - Lj = log pij (correct)

Li + Lj = log pij

What is the next step after reducing the attribute set using rating scales?

Use Maxdiff scaling Signup and view all the answers

What is the focus of measuring preference strengths?

The most important attributes Signup and view all the answers

What is the sum of the normalized importance of each attribute?

100 Signup and view all the answers

The Kano Method categorizes product features into four types: Must-be, More-is-better, Delighter, and Neutral.

False Signup and view all the answers

MaxDiff Scaling is also known as worst-best scaling.

False Signup and view all the answers

Scale Rating is a method used to prioritize customer preferences by ranking features in order of importance.

False Signup and view all the answers

Paired Comparisons is a method used to compare customer preferences between multiple options.

False Signup and view all the answers

Rank Ordering is a method used to measure customer attitudes and opinions on a numerical scale.

False Signup and view all the answers

What is the main advantage of MaxDiff Scaling?

It reduces bias and social desirability Signup and view all the answers

What is the primary purpose of Scale Rating?

To measure attitudes or opinions using a numerical scale Signup and view all the answers

What is the main advantage of Rank Ordering?

It is easy to understand and administer Signup and view all the answers

What is the primary purpose of Paired Comparisons?

To measure preferences by presenting two options at a time Signup and view all the answers

Explicit Response Approach is used to infer importance valuations indirectly through preference ordering of products.

False Signup and view all the answers

Constant Sum scale is used to eliminate less important attributes.

False Signup and view all the answers

The main purpose of Preference Measurement is to identify customer attitudes and opinions on a numerical scale.

False Signup and view all the answers

Paired Comparisons is a method used to prioritize customer preferences by ranking features in order of importance.

False Signup and view all the answers

The statement 'Chinese is twice as good as Indian' is an interpretation of an interval scale.

False Signup and view all the answers

Rank Ordering is used to refine the set of attributes after eliminating less important ones.

True Signup and view all the answers

The ratio scale interpretation implies that the difference between Mexican and Chinese is three times the difference between Chinese and Indian.

True Signup and view all the answers

The ordinal scale only provides information about the relative ranking of the attributes, but not their relative differences.

True Signup and view all the answers

The scale type determines the type of analytics that can be done with the collected data.

True Signup and view all the answers

The scale type affects how the data is summarized and interpreted.

True Signup and view all the answers

As the number of items per set increases, the cognitive load also decreases.

False Signup and view all the answers

The optimal number of items per set is 3 or 6.

False Signup and view all the answers

The methodology of 'Balanced Incomplete Block Designs' is used to determine the optimal number of items per set.

False Signup and view all the answers

The logit probability is used to model the probability of the customer's picks based on the difference in importances between the two attributes in the pair.

True Signup and view all the answers

The log importance difference is calculated as L_i - L_j = log pij / (1-pij)

True Signup and view all the answers

The purpose of paired comparisons is to identify customer attitudes and opinions on a numerical scale

False Signup and view all the answers

The differences in preference strengths for various attribute-levels within the most important attributes do not matter much.

False Signup and view all the answers

The ratings should be rescaled so that the most preferred attribute-level has a rating of 1 and the least preferred attribute-level has a rating of 7.

False Signup and view all the answers

The MaxDiff approach is used when there are few attribute-levels for a certain attribute.

False Signup and view all the answers

Stated importance methods can provide accurate results without considering the range or set of values the attribute can take.

False Signup and view all the answers

The Preference Measurement Explicit method is used to prioritize customer preferences by ranking features in order of importance.

False Signup and view all the answers

Customer Analytics - Preference Measurement Explicit

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Questions and Answers

What is the purpose of Maxdiff scaling?

What is the implication of pij in the preference measurement?

What is the formula for the log importance difference?

What is the next step after reducing the attribute set using rating scales?

What is the focus of measuring preference strengths?

What is the sum of the normalized importance of each attribute?

The Kano Method categorizes product features into four types: Must-be, More-is-better, Delighter, and Neutral.

MaxDiff Scaling is also known as worst-best scaling.

Scale Rating is a method used to prioritize customer preferences by ranking features in order of importance.

Paired Comparisons is a method used to compare customer preferences between multiple options.

Rank Ordering is a method used to measure customer attitudes and opinions on a numerical scale.

What is the main advantage of MaxDiff Scaling?

What is the primary purpose of Scale Rating?

What is the main advantage of Rank Ordering?

What is the primary purpose of Paired Comparisons?

Explicit Response Approach is used to infer importance valuations indirectly through preference ordering of products.

Constant Sum scale is used to eliminate less important attributes.

The main purpose of Preference Measurement is to identify customer attitudes and opinions on a numerical scale.

Paired Comparisons is a method used to prioritize customer preferences by ranking features in order of importance.

The statement 'Chinese is twice as good as Indian' is an interpretation of an interval scale.

Rank Ordering is used to refine the set of attributes after eliminating less important ones.

The ratio scale interpretation implies that the difference between Mexican and Chinese is three times the difference between Chinese and Indian.

The ordinal scale only provides information about the relative ranking of the attributes, but not their relative differences.

The scale type determines the type of analytics that can be done with the collected data.

The scale type affects how the data is summarized and interpreted.

As the number of items per set increases, the cognitive load also decreases.

The optimal number of items per set is 3 or 6.

The methodology of 'Balanced Incomplete Block Designs' is used to determine the optimal number of items per set.

The logit probability is used to model the probability of the customer's picks based on the difference in importances between the two attributes in the pair.

The log importance difference is calculated as L_i - L_j = log pij / (1-pij)

The purpose of paired comparisons is to identify customer attitudes and opinions on a numerical scale

The differences in preference strengths for various attribute-levels within the most important attributes do not matter much.

The ratings should be rescaled so that the most preferred attribute-level has a rating of 1 and the least preferred attribute-level has a rating of 7.

The MaxDiff approach is used when there are few attribute-levels for a certain attribute.

Stated importance methods can provide accurate results without considering the range or set of values the attribute can take.

The Preference Measurement Explicit method is used to prioritize customer preferences by ranking features in order of importance.

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