Which of the following is an appropriate use of conjoint analysis?
A)To help select the features on a new product
B)To help set prices
C)To help predict the sales level of a new product
D)To help predict the usage level of a new product
E)All of these are appropriate uses of conjoint analysis.

Question

Quizplus · Accepted Answer

Conjoint analysis can be used to identify which features of a new product are most important to consumers, which can aid in the selection of product features (A). It can also be used to determine how much consumers are willing to pay for different features, assisting with pricing decisions (B). Additionally, conjoint analysis can be used to predict the potential sales level of a new product (C) and how frequently consumers would use it (D). Therefore, all of the given options are appropriate uses of conjoint analysis.

Which of the Following Is an Appropriate Use of Conjoint