Answered step by step
Verified Expert Solution
Question
1 Approved Answer
II. A company called XYZ produces a product: A. The company is planning to introduce a new product E. the company conducted a survey
II. A company called XYZ produces a product: A. The company is planning to introduce a new product E. the company conducted a survey of shoppers to understand customers' buying habits and determine the share of shoppers that the new product might attract. The customer rated four existing products and proposed new product on a number of dimensions: 1) Quality, 2) Durability, 3) Value for the money, and 4) Ease of use. The results of this survey are shown in the following table: Customer 1 Product Quality Durability Value for the A B C D E (Proposed) Importance weight A B C D E (Proposed) Importance weight A B C D E (Proposed) 0.7 0.4 0.5 0.3 0.6 Importance weight 1.8 Customer 2 Product Quality Durability Value for the money 0.8 0.5 1- 2- 3- 0.6 0.45 0.55 0.3 0.7 1.8 0.9 0.45 0.5 0.75 0.4 0.7 0.5 0.4 0.35 0.75 1.8 0.4 0.75 0.4 0.6 0.9 1.5 Customer 3 Product Quality Durability Value for the 0.55 0.65 0.45 0.7 0.6 1.5 money 0.6 0.4 0.6 0.7 0.7 2.2 1.5 0.55 0.65 0.75 2.2 money 0.5 0.5 0.65 0.7 0.6 2.2 Ease of use 0.8 0.5 0.4 0.7 0.6 1.6 Ease of use 0.85 0.6 0.45 0.75 0.5 1.6 0.85 0.6 0.3 0.9 0.65 Ease of use | 1.6 What is the expected market share for the new proposed product (product E)? What is the percentage of market share draw and Cannibalization from each product? What do you recommend regarding new product?
Step by Step Solution
★★★★★
3.52 Rating (162 Votes )
There are 3 Steps involved in it
Step: 1
Solution m m m 4 m K E K E mv ...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