Conjoint analysis uses monotone analysis of variance (MONANOVA)to identify the:
A)appropriate price for a new product.
B)best market for a new product.
C)strengths and weaknesses of a competitor.
D)customer's underlying value system within the rank order data.

Question

Quizplus · Accepted Answer

Conjoint analysis is a statistical tool that helps businesses understand customers' value system by measuring their preferences for different product attributes. MONANOVA is a specific method of analysis used in conjoint analysis to identify the customer's underlying value system within the rank order data. Therefore, the correct answer is D) customer's underlying value system within the rank order data.

Conjoint Analysis Uses Monotone Analysis of Variance (MONANOVA)to Identify The