In conjoint analysis,________ indicate which attributes are important in influencing consumer choice.
A)relative importance weights
B)orthogonal arrays
C)part-worth functions
D)attribute levels

Question

Quizplus · Accepted Answer

Conjoint analysis is a research method used to understand how consumers make choices and the factors that drive those choices. In this method, respondents are presented with different product profiles that vary in terms of their attributes (such as price, color, design, etc.) and asked to choose their preferred option.

The analysis of the data collected through conjoint analysis involves identifying the relative importance of each attribute in influencing consumer choice. Relative importance weights allow us to assign a weight to each attribute based on its relative impact on consumer choice. This helps identify which attributes are most important and should be prioritized when designing a product.

Part-worth functions are another important output of conjoint analysis. Part-worths reflect the value consumers place on each level of each attribute. These functions help estimate the expected utility of a product profile by summing up the part-worths of each attribute level.

Therefore, both A) relative importance weights and C) part-worth functions are important in understanding the attributes that drive consumer choice in conjoint analysis.

In Conjoint Analysis,________ Indicate Which Attributes Are Important in Influencing