Identify the correct statement regarding conjoint analysis.
A)It allows a manager to identify the best market segment for a product.
B)It is most commonly used in opportunity identification.
C)It is most useful in the case of completely new to-the-world products.
D)It cannot be carried out until determinant attributes have been identifieD.

Question

Quizplus · Accepted Answer

Conjoint analysis requires the identification of determinant attributes before it can be carried out effectively. These are the product attributes that are most important to customers and have the greatest influence on their purchase decisions. Without this information, a conjoint analysis may yield unreliable results. Therefore, option D is the correct choice. Option A is incorrect because while conjoint analysis can help identify the characteristics of the most desirable product or service for a given market segment, it is not solely focused on market segmentation. Option B is incorrect because conjoint analysis is more geared towards product development than opportunity identification. Finally, option C is incorrect because conjoint analysis is useful for evaluating existing as well as new products.

Identify the Correct Statement Regarding Conjoint Analysis