Question
A marketing researcher wants to conduct a conjoint analysis to determine the relative importance of four different attributes of a new smartphone model: battery life,
A marketing researcher wants to conduct a conjoint analysis to determine the relative importance of four different attributes of a new smartphone model: battery life, screen size, camera quality, and price. The researcher surveys 1000 consumers and presents them with four hypothetical smartphone models, each varying in the levels of the four attributes. The respondents are asked to rate their likelihood of purchasing each smartphone model on a scale of 1 to 10.
The following table shows the average likelihood of purchase rating for each smartphone model:
Attribute | Level 1 | Level 2 | Level 3 | Level 4 |
---|---|---|---|---|
Battery Life | 7 | 8 | 6 | 9 |
Screen Size | 5 | 8 | 7 | 6 |
Camera Quality | 9 | 7 | 8 | 6 |
Price | 4 | 6 | 8 | 9 |
Average Rating |
a) Calculate the part-worth utility for each level of each attribute.
b) Based on the part-worth utilities, calculate the importance weights for each attribute.
c) Calculate the utility score for each smartphone model.
d) Which smartphone model is the most preferred by the consumers? Why?
Step by Step Solution
3.46 Rating (153 Votes )
There are 3 Steps involved in it
Step: 1
The detailed answer for the above question is provided below a The partworth utility for each level of each attribute can be calculated using the foll...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started