Which of the following is used to understand the attributes that guide preferences by having consumers compare products across levels of evaluative criteria and the expected utility associated with the alternatives?
A) Cluster analysis
B) Conjoint analysis
C) Regression analysis
D) Factor analysis
E) Time series analysis

Question

Quizplus · Accepted Answer

Conjoint analysis is used to understand the attributes that guide preferences by having consumers compare products across levels of evaluative criteria and the expected utility associated with the alternatives. Cluster analysis is used to identify groups of customers with similar preferences, regression analysis is used to analyze the relationship between predictor variables and a response variable, factor analysis is used to identify underlying dimensions that explain correlations among a set of variables, and time series analysis is used to analyze trends and patterns in time series data.

Which of the Following Is Used to Understand the Attributes