What is the most important product attribute for consumer segment 1?
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Description:
Three major consumer electronics brands (X, C1 and C2) are competing for the smartwatch market share in an Asian market with very low penetration. Initial indications suggest that the consumers are both brand and price conscious. Additionally, the presence of an inbuilt SIM is one of the differentiating product attributes. Brand X currently enjoys a superior position in terms of market share but is wary of competition. It is mulling the introduction of another product to its product line but is not sure about the composition.
A conjoint study was commissioned by the Brand X’s marketing manager and a snapshot of consumer preferences of the target market for different product profiles is available in the file “dataset_preferences_smartwatch_assignment.xlsx”. There are three types of consumers (segments) with distinctly different preferences. The table in the file provides the data on consumer preferences for 12 different product profiles. The products currently on the market are highlighted (profile #4, #5 and #12).
Question 13 pts
What is the most important product attribute for consumer segment 1?
Group of answer choices
Price
Inbuilt SIM
Brand
None of the above
Flag question: Question 2
Question 23 pts
Which is the most preferred brand for consumer segment 1?
Group of answer choices
Brand X
Brand C1
Brand C2
None of the above
Flag question: Question 3
Question 33 pts
What is the amount of utility lost for a dollar increase in price for consumer segment 1?
Group of answer choices
[0.026, 0.027] utils
[0.26, 0.27] utils
Less than 0.027 utils but it is not statistically significant
None of the above
Flag question: Question 4
Question 43 pts
What is true about the preferences of consumer segment 2? [select all that apply]
Group of answer choices
Whether or not an inbuilt SIM is available seems to matter a lot
They are not very conscious of brand names
They are very price sensitive
None of the above
Flag question: Question 5
Question 53 pts
What can you say about impact of price on the preferences of consumer segment 2?
Group of answer choices
They are very price conscious
They are not as price conscious as the other consumer segments
Price is important but not as much as brand name
None of the above
Flag question: Question 6
Question 63 pts
Assuming a 0.02 util/dollar exchange rate for consumer segment 2, what can you say about their maximum willingness to pay for a product without inbuilt SIM?
Group of answer choices
$300
They won’t pay extra for removing the feature they like
$30
None of the above
Flag question: Question 7
Question 73 pts
What’s true concerning the preferences of consumer segment 3?
Group of answer choices
They like Brand C2 better than Brand C1
They like Brand X better than C1
They are indifferent between Brand C2 and X
None of the above
Flag question: Question 8
Question 83 pts
What’s the exchange rate between dollar and utils for consumer segment 3?
Group of answer choices
0.12 utils/$
12 cents per util
-0.12 utils/$
None of the above
Flag question: Question 9
Question 93 pts
How much will a consumer from segment 3 pay at max to get a C1 branded watch over other competing brands?
Group of answer choices
$50
$25
Nothing
None of the above
Flag question: Question 10
Question 103 pts
How much more valuable is product profile #1 compared to product profile #6 in dollars for consumer segment 3?
Group of answer choices
$300
$225
$50
None of the above
Flag question: Question 11
Question 113 pts
Under the status quo scenario where product profiles #4, #5 and #12 compete with each other, who has the majority share?
Group of answer choices
Brand X
Brand C1
Brand C2
None of the above
Flag question: Question 12
Question 123 pts
Under the status quo scenario where product profiles #4, #5 and #12 compete with each other, what’s the market share of Brand C1?
Group of answer choices
Less than 10%
Less than 11%
More than 20%
None of the above
Flag question: Question 13
Question 133 pts
Under Scenario 2 [Brand X introduces an additional product, profile#7, to their product line with four products competing in the market], what is the impact on Brand X?
Group of answer choices
Market share of brand X will increase
Market share of Brand X will increase by 15% (relative to status quo)
Market share of Brand X will drop to almost zero
None of the above
Flag question: Question 14
Question 143 pts
Under Scenario 2 [Brand X introduces an additional product, profile#7, to their product line with four products competing in the market], what is the impact on Brand C1?
Group of answer choices
Market share of Brand C1 increases
Market share of Brand C1 remains the same
Market share of Brand C1 drops to less than 0.1% of the total number customers in the market
None of the above
Flag question: Question 15
Question 153 pts
Under Scenario 2 [Brand X introduces an additional product, profile#7, to their product line with four products competing in the market], what is the impact on Brand C2? [select all that apply]
Group of answer choices
Brand C2 gains an additional [8, 9] % of the total number of customers in the market
Brand C2 remains behind Brand X in market share
Brand C2 loses more than half of its previous market share
None of the above
Flag question: Question 16
Question 163 pts
Which of the following is true concerning Scenario 2 [Brand X introduces an additional product, profile#7, to their product line with four products competing in the market]?
Group of answer choices
Brand C2 gains more market share than Brand X does despite remaining the market leader
The share of the new product introduced is mostly drawn from its own product (cannibalization)
Brand C1 loses more market share than Brand C2 in terms of number of customers in the market
None of the above
Flag question: Question 17
Question 173 pts
What is true about the technique of conjoint analysis for analyzing consumer preferences for competing products? [select all that apply]
Group of answer choices
It aids in new product/service development
It aids in the approximation of consumer willingness to pay for potential changes to product composition
It indirectly derives the value consumers place on different attributes of a product
It is a useful tool in the analysis of the subjective elements that make up a product
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