This approach of estimating competition from customer judgments, asks customers to take a large set of products and divide them into groups of items that can be substituted for one another and then to judge the similarity of the products in each group.
A) Judged overall similarity
B) Similarity within consideration sets
C) Product deletion sets
D) Substitution in use sets
E) Perceptual mapping

Question

Quizplus · Accepted Answer

This approach is known as "Similarity within consideration sets" because it involves customers grouping products based on their substitutability and then assessing the similarity within each group. This method focuses on understanding how consumers perceive the substitutability of different products within their consideration set.

This Approach of Estimating Competition from Customer Judgments, Asks Customers