Question

Assume that you are a marketing manager for a firm that markets tablet computers. Your firm introduces a new model of tablet annually to replace the offering currently on the market. To ensure that your firm is planning and creating tablets that the marketplace values and will buy, you conduct periodic conjoint analysis studies. Briefly describe your planned study for this year.

Answer 1

Answer:

Choose the product

Select its attributes that are potentially important for the customers

Choose the value for each attribute

Choose the form in which the combination of these attributes is presented.

Explanation:

Conjoint analysis is a survey based on statistical techniques for market research. In this analysis assumptions of a product or service is broken into various attributes. Conjoint analysis aims to find value that consumer places for each attribute of the tablet before they will make a decision to purchase it. Conjoint analysis is a quantitative technique which is used for research purpose.