Asked by Loretta Foshee on May 22, 2024

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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.
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TK
Taylor KellerMay 27, 2024
Final Answer :
B
Explanation :
Conjoint analysis is a market analysis method that helps identify the value that different segments place on different product attributes. It typically works by presenting a set of product profiles to respondents and asking them to rate or choose their preferred options. The profiles vary in terms of attribute levels, such as price, quality, features, design, and brand, and the analysis then uses statistical models to estimate the relative importance of these attributes and levels for different segments. Scanner data, panel data, and experiments can also provide valuable market insights, but they do not specifically focus on identifying the value of product attributes for different segments.