Consumer Analysis

Question 1

What is consumer analysis?

Answer 1

Focusing on understanding the importance consumers place on different product attributes. Then prioritizing those attributes.

Question 2

What are the 3 methods for consumer analysis? (RCC)

Answer 2

• Rating Scales
• Constant-Sum Measures
• Conjoint Analysis

Question 3

What are Rating Scales?

Answer 3

Customers rate different attributes usually on a scale of 1 - 10.

Question 4

What are the 3 reasons rating scales can fail?

Answer 4

• Discriminability of Ratings (Everything seems similar)
• Attribute Vs. Level of Attribute
• Isolated Attributes Vs. Trade-Offs (Consumer doesn’t have to make trade-offs)

Question 5

What is Constant-Sum Measures?

Answer 5

Respondent given a number (usually 100) and asked to divide a points among the dimensions.

Question 6

What is Conjoint Analysis?

Answer 6

Survey-based statistical technique used in market research that helps determine how people value different attributes (feature, function, benefits) that make up an individual product or service

Question 7

What is the “Holy Grail” of consumer analysis to marketers?

Answer 7

Conjoint Analysis

Question 8

Utilities for a dimension may be ______ and even _______

Answer 8

Non-linear; non-monotonic