Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Brian Cuspid, who works for a leading toothpaste manufacturer, wishes to better understand target customers in a particular geographic region. His manager suggested trying conjoint
Brian Cuspid, who works for a leading toothpaste manufacturer, wishes to better understand target customers in a particular geographic region. His manager suggested trying conjoint analysis. She told him that not only would he gain insight into the trade- offs among various attributes in the target demographic, but also that conjoint could help estimate how much customers would be willing to pay for different configurations. Excited by this possibility, he contacted Ron Paul Analytics, who ran the following study for him. Attribute Level Utility Attribute Level Utility Price $3.22 1.52 Brand Allsmile 0.62 $3.55 1.21 B&B Healthcare 0.33 $3.88 -0.31 Caremore -0.20 $4.11 -1.42 Dentacare -0.43 Delivery Tube -0.33 Texture Paste 0.19 Pump 0.33 Gel -0.19 Size Small -1.05 Medium 0.19 Large 0.9 What is the approximate value of a utility of 1.00 based on the given price ranges? [Note: Use the high and low levels of price provided for your calculations] Brian Cuspid, who works for a leading toothpaste manufacturer, wishes to better understand target customers in a particular geographic region. His manager suggested trying conjoint analysis. She told him that not only would he gain insight into the trade- offs among various attributes in the target demographic, but also that conjoint could help estimate how much customers would be willing to pay for different configurations. Excited by this possibility, he contacted Ron Paul Analytics, who ran the following study for him. Attribute Level Utility Attribute Level Utility Price $3.22 1.52 Brand Allsmile 0.62 $3.55 1.21 B&B Healthcare 0.33 $3.88 -0.31 Caremore -0.20 $4.11 -1.42 Dentacare -0.43 Delivery Tube -0.33 Texture Paste 0.19 Pump 0.33 Gel -0.19 Size Small -1.05 Medium 0.19 Large 0.9 What is the approximate value of a utility of 1.00 based on the given price ranges? [Note: Use the high and low levels of price provided for your calculations]
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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