Discuss some of the managerial questions where conjoint analysis ...

[iveyjurea]

Discuss some of the managerial questions where conjoint analysis is applied in marketing research.

Question 2

In multiple regression, the coefficient of multiple determination, or 2, indicates the percentage of the variation in Y that can be explained by all independent variables.
 
 Indicate whether the statement is true or false

[hramirez205]

Answer to Question 1

Student answers will vary; some possible examples below.

Product Development
Which attributes do consumers consider most important?
Which attribute levels are especially valued?
Pricing Research
How much would consumers pay for a specific set of attribute levels?
How might a set of different products compete against one another?
Can we model and predict how demand will change if prices go up, production costs increase, and so on?
Competitive Positioning
What effect will this new product have on an existing market?
What would be a good product positioning for a hypothetical new product?
Market Segmentation
Do sets of consumers exist with markedly different tastes?
How many products variants are needed to cover the market?
Brand Equity
What is the value of a particular brand name (as an attribute)?
What are the effects of going with a new or umbrella branding strategy?

Answer to Question 2

F
The coefficient of multiple determination is denoted as R2.

[iveyjurea]

Thanks for the timely response, appreciate it

[amandanbreshears]

Great answer, keep it coming