Conjoint analysis is typically used in the business analysis stage of new product development.

Question

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Conjoint analysis is typically used in the concept development and evaluation stage of new product development. Conjoint analysis is a method in which respondents receive descriptions of hypothetical products with varying levels of the same attributes. Respondents then rank the products on the basis of their preference. Researchers are able to determine the ideal combination of attributes which is then used in concept development and evaluation.

Conjoint Analysis Is Typically Used in the Business Analysis Stage