Question 1

If individual-respondent level analysis has been conducted,the estimation sample can be split in several ways to assess the stability of conjoint analysis solutions.

Accepted Answer

The answer of If individual-respondent level analysis has been conducted,the...

Question 2

In conjoint analysis,the attribute's importance is normalized to ascertain its importance relative to other attributes,W_i.

Accepted Answer

Conjoint analysis does normalize attribute importance to compare the relative importance of attributes.

Question 3

________ is a lack of fit measure;higher values indicate poorer fits.

Accepted Answer

The lack of fit measure referred to in the question is stress. It is widely used in multidimensional scaling techniques and measures the discrepancy between the actual similarity matrix and the predicted similarity matrix. Higher values of stress indicate poorer fits. Therefore, option B is the correct answer. Option A refers to the specific levels of attributes, option C refers to the coefficient of determination, and option D refers to the weights assigned to different variables in a regression equation. None of these options are related to the concept of lack of fit measure.

Question 4

In conjoint analysis,the importance of an attribute,I_i,is defined in terms of the range of the part-worths,α_ij,across the levels of that attribute I_i = {max(α_ij)- min(α_ij)},for each i.

Accepted Answer

This statement is true as the importance of an attribute in conjoint analysis is measured by the range between the maximum and minimum part-worths across the levels of that attribute.

Question 5

For interpreting conjoint analysis,it is helpful to plot the part-worth functions.

Accepted Answer

Plotting part-worth functions helps in visualizing the preferences and trade-offs of consumers for different attributes and levels.

Question 6

In MDS,at minimum,________ brands or stimuli should be included so as to obtain a well-defined spatial map.Including more than ________ brands is likely to be cumbersome and may result in respondent fatigue.

Accepted Answer

The answer of In MDS,at minimum,________ brands or stimuli should...

Question 7

The derivation and use of ________ lie at the heart of multidimensional scaling.

Accepted Answer

Perceptual maps are a key tool in multidimensional scaling, as they visually represent how target markets perceive products or services in relation to competitors, based on various attributes.

Question 8

The text reports on a research project which used MDS to plot the perceived ethics of marketing research firms using a broad-based moral equity dimension (factor 1)and a relativistic dimension (factor 2).Based on the research,internal marketing research departments are perceived to be the most ethical on both dimensions.

Accepted Answer

The research found that internal marketing research departments are perceived to be the most ethical on both dimensions.

Question 9

In ________ approaches to collecting perception data,the respondents are asked to use their own criteria to judge how similar or dissimilar the various brands or stimuli are.

Accepted Answer

In direct approaches to collecting perception data, respondents are asked to use their own criteria to judge the similarity or dissimilarity between various brands or stimuli, relying on their personal judgments and perceptions without predefined criteria or scales.

Question 10

________ is a squared correlation index that indicates the proportion of variance of the optimally scaled data that can be accounted for by the MDS procedure.This is a goodness-of-fit measure.

Accepted Answer

R-square is a goodness-of-fit measure that indicates the proportion of variance of the optimally scaled data that can be accounted for by the MDS procedure. Therefore, option C is the correct answer. Option A (attribute levels) and option D (relative importance weights) are not related to the definition given in the question. Option B (stress) is a measure of the discrepancy between the distances in the original space and the distances in the reduced MDS space, and not a goodness-of-fit measure.

Question 11

Which is a disadvantage of the derived approach to collecting perception data?

Accepted Answer

The derived approach requires the researcher to identify all the salient attributes, which can be a disadvantage as it may be difficult to identify all relevant attributes and to determine which ones are most important to consumers. This can affect the accuracy and validity of the perception data collected. The other options are also potential disadvantages of the derived approach, but B is the most relevant to the question.

Question 12

Which is a disadvantage of the direct approach to collecting perception data?

Accepted Answer

The answer of Which is a disadvantage of the direct...

Question 13

________ requires that the researcher specify the purpose for which the MDS results would be used and select the brands or other stimuli to be included in the analysis.

Accepted Answer

Formulating the problem is the first step in the MDS procedure, and it involves specifying the purpose for which the MDS results would be used and selecting the brands or other stimuli to be included in the analysis.

Question 14

Conjoint analysis assumes that the important attributes of a product can be identified.

Accepted Answer

Conjoint analysis is a research technique that helps in identifying the preferences of consumers for various attributes of a product or service. It assumes that the important attributes can be identified and their relative importance can be measured.

Question 15

Which is an advantage of the derived approach to collecting perception data?

Accepted Answer

The answer of Which is an advantage of the derived...

Question 16

________ is a class of procedures for representing perceptions and preferences of respondents spatially by means of a visual display.

Accepted Answer

Multidimensional scaling (MDS) is a class of procedures for representing perceptions and preferences of respondents spatially by means of a visual display. It is commonly used in market research to understand consumers' perceptions of brands, products, or attributes by mapping their responses onto a two- or three-dimensional space. MDS can be an effective tool for identifying patterns and relationships in complex data sets, and for generating insights into consumers' decision-making processes.

Question 17

MDS could be used for all of the marketing applications below except ________

Accepted Answer

MDS cannot be used to make judgments on compatibility of brands with different retail outlets, as stated in option D. However, it can be used for market segmentation, assessing advertising effectiveness, and analyzing consumer intentions related to various price points.

Question 18

Conjoint analysis assumes that consumers evaluate the choice alternatives in terms of the important attributes and make trade-offs.

Accepted Answer

This is the basic assumption of conjoint analysis as it aims to understand the relative importance of different attributes and how consumers make trade-offs while making a choice.

Question 19

Which is an advantage of the direct approach to collecting perception data?

Accepted Answer

The direct approach to collecting perception data allows researchers to gather insights without pre-defining a set of attributes, relying instead on respondents' spontaneous perceptions, which can reveal more natural and potentially unexpected insights.

Question 20

In which approach to collecting perception data are respondents often required to rate all possible pairs of brands or stimuli in terms of similarity on a Likert scale?

Accepted Answer

The answer of In which approach to collecting perception data...

Quiz 21: Multidimensional Scaling and Conjoint Analysis

If individual-respondent level analysis has been conducted,the estimation sample can be split in several ways to assess the stability of conjoint analysis solutions.

In conjoint analysis,the attribute's importance is normalized to ascertain its importance relative to other attributes,W_i.

________ is a lack of fit measure;higher values indicate poorer fits.

In conjoint analysis,the importance of an attribute,I_i,is defined in terms of the range of the part-worths,α_ij,across the levels of that attribute I_i = {max(α_ij)- min(α_ij)},for each i.

For interpreting conjoint analysis,it is helpful to plot the part-worth functions.

In MDS,at minimum, brands or stimuli should be included so as to obtain a well-defined spatial map.Including more than brands is likely to be cumbersome and may result in respondent fatigue.

The derivation and use of ________ lie at the heart of multidimensional scaling.

In ________ approaches to collecting perception data,the respondents are asked to use their own criteria to judge how similar or dissimilar the various brands or stimuli are.

________ is a squared correlation index that indicates the proportion of variance of the optimally scaled data that can be accounted for by the MDS procedure.This is a goodness-of-fit measure.

Which is a disadvantage of the derived approach to collecting perception data?

Which is a disadvantage of the direct approach to collecting perception data?

________ requires that the researcher specify the purpose for which the MDS results would be used and select the brands or other stimuli to be included in the analysis.

Conjoint analysis assumes that the important attributes of a product can be identified.

Which is an advantage of the derived approach to collecting perception data?

________ is a class of procedures for representing perceptions and preferences of respondents spatially by means of a visual display.

MDS could be used for all of the marketing applications below except ________

Conjoint analysis assumes that consumers evaluate the choice alternatives in terms of the important attributes and make trade-offs.

Which is an advantage of the direct approach to collecting perception data?

In which approach to collecting perception data are respondents often required to rate all possible pairs of brands or stimuli in terms of similarity on a Likert scale?

Quiz 21: Multidimensional Scaling and Conjoint Analysis

If individual-respondent level analysis has been conducted,the estimation sample can be split in several ways to assess the stability of conjoint analysis solutions.

In conjoint analysis,the attribute's importance is normalized to ascertain its importance relative to other attributes,Wi.

________ is a lack of fit measure;higher values indicate poorer fits.

In conjoint analysis,the importance of an attribute,Ii,is defined in terms of the range of the part-worths,αij,across the levels of that attribute Ii = {max(αij)- min(αij)},for each i.

For interpreting conjoint analysis,it is helpful to plot the part-worth functions.

In MDS,at minimum,________ brands or stimuli should be included so as to obtain a well-defined spatial map.Including more than ________ brands is likely to be cumbersome and may result in respondent fatigue.

The derivation and use of ________ lie at the heart of multidimensional scaling.

In ________ approaches to collecting perception data,the respondents are asked to use their own criteria to judge how similar or dissimilar the various brands or stimuli are.

________ is a squared correlation index that indicates the proportion of variance of the optimally scaled data that can be accounted for by the MDS procedure.This is a goodness-of-fit measure.

Which is a disadvantage of the derived approach to collecting perception data?

Which is a disadvantage of the direct approach to collecting perception data?

________ requires that the researcher specify the purpose for which the MDS results would be used and select the brands or other stimuli to be included in the analysis.

Conjoint analysis assumes that the important attributes of a product can be identified.

Which is an advantage of the derived approach to collecting perception data?

________ is a class of procedures for representing perceptions and preferences of respondents spatially by means of a visual display.

MDS could be used for all of the marketing applications below except ________

Conjoint analysis assumes that consumers evaluate the choice alternatives in terms of the important attributes and make trade-offs.

Which is an advantage of the direct approach to collecting perception data?

In which approach to collecting perception data are respondents often required to rate all possible pairs of brands or stimuli in terms of similarity on a Likert scale?

In conjoint analysis,the attribute's importance is normalized to ascertain its importance relative to other attributes,W_i.

In conjoint analysis,the importance of an attribute,I_i,is defined in terms of the range of the part-worths,α_ij,across the levels of that attribute I_i = {max(α_ij)- min(α_ij)},for each i.

In MDS,at minimum, brands or stimuli should be included so as to obtain a well-defined spatial map.Including more than brands is likely to be cumbersome and may result in respondent fatigue.