The candy bar market has three available brands: Choco-Blast, OHMY?#! and ChewGoo. Each sells for $1.00....

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The candy bar market has three available brands: Choco-Blast, OHMY?#! and ChewGoo. Each sells for $1.00. Consumers consider only two attributes and price when deciding which brand to purchase. The attributes are chocolate goodness and chewiness. The attribute levels of the brands are summarized in the following table (using a 1-10 scale with 10 being the best): OHMY?#! Choco-Blast ChewGoo CHOCOLATE GOODNESS 6 9 3 CHEWINESS 629 Each consumer has decided to spend $1.00 on a candy bar, has a linear utility function concerning the two attributes and will definitely buy only one of the 3 brands. (limit: 1 total page) a) Locate the three brands on a product map with chocolate goodness on one axis and chewiness on the other axis. b) Using the product map you drew for part a) illustrate graphically a consumer who would be indifferent between Choco-Blast and ChewGoo. What candy bar would this consumer purchase? c) On the product map you used in part a) also illustrate graphically a consumer who would buy ChewGoo and a consumer who would buy Choco-Blast. How does the utility function differ for these two individuals? d) Where would you position a new product called "Aaaaahhh" that is price at one dollar in order to get one but not both of the consumers identified in part c) to purchase the new product? Identify the total possible area for this positioning not just a single point. The candy bar market has three available brands: Choco-Blast, OHMY?#! and ChewGoo. Each sells for $1.00. Consumers consider only two attributes and price when deciding which brand to purchase. The attributes are chocolate goodness and chewiness. The attribute levels of the brands are summarized in the following table (using a 1-10 scale with 10 being the best): OHMY?#! Choco-Blast ChewGoo CHOCOLATE GOODNESS 6 9 3 CHEWINESS 629 Each consumer has decided to spend $1.00 on a candy bar, has a linear utility function concerning the two attributes and will definitely buy only one of the 3 brands. (limit: 1 total page) a) Locate the three brands on a product map with chocolate goodness on one axis and chewiness on the other axis. b) Using the product map you drew for part a) illustrate graphically a consumer who would be indifferent between Choco-Blast and ChewGoo. What candy bar would this consumer purchase? c) On the product map you used in part a) also illustrate graphically a consumer who would buy ChewGoo and a consumer who would buy Choco-Blast. How does the utility function differ for these two individuals? d) Where would you position a new product called "Aaaaahhh" that is price at one dollar in order to get one but not both of the consumers identified in part c) to purchase the new product? Identify the total possible area for this positioning not just a single point.