Asked by Loretta Foshee on May 22, 2024
Verified
Which market analysis method is able to identify the value that different segments place on different product attributes?
A) scanner data
B) conjoint analysis
C) panel data
D) experiments
Conjoint Analysis
A statistical technique used in market research to determine how people value different features that make up an individual product or service.
Product Attributes
The features, functions, benefits, and characteristics that define a product and contribute to its perceived value and utility by consumers.
Market Analysis
The process of researching and understanding the dynamics of a specific market within an industry, including size, trends, competition, and customer behavior.
- Comprehend the utilization of quantitative analysis within market research.
Verified Answer
Learning Objectives
- Comprehend the utilization of quantitative analysis within market research.
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