An Attribute Rating survey was conducted by WCB, a world-famous business school, on a sample of business
Question:
An Attribute Rating survey was conducted by WCB, a world-famous business school, on a sample of business school students in order to understand consumer perceptions of 9 business schools. This was done mainly to understand how WCB was perceived by business school students. WCB was especially interested in understanding how it was perceived vis‐ à‐vis other business schools on the East Coast, e.g., Sloan, Fuqua and Goizueta. Six brand attributes were used in the study: (i) Tuition, (ii) Prestige, (iii) Placement, (iv) Class Size, (v) Faculty, and (vi) Location. The results of the AR survey are given in the data above. The AR table in the spreadsheet represents the average attribute ratings of all survey respondents.
(a) Construct an AR perceptual map.
(b) If WCB wants to be perceived as a more prestigious school, should it invest in hiring better faculties, or reducing its class size? Why? Assume the costs are comparable for these two options.
(c) Based on the AR map, which school is the closest competitor with WCB?
Tuition | Prestige | Placement | Class Size | Faculty | Location | |
WCB | 5.020408 | 6.66 | 6.723404 | 7.770833 | 7.595745 | 4.28 |
Sloan | 4.808511 | 8.42 | 8.133333 | 6.880952 | 8.545455 | 7.734694 |
Harvard | 4.680851 | 7.82 | 8 | 6.227273 | 8.044444 | 7.32 |
RobertSmith | 6.461538 | 5.534884 | 5.555556 | 5.470588 | 5.8 | 4.425 |
Tuck | 5.425 | 7.066667 | 6.972973 | 7.324324 | 7.55 | 4.75 |
Goizueta | 5.642857 | 6.152174 | 6.564103 | 6.945946 | 6.717949 | 5.697674 |
Johnson | 4.977273 | 7.591837 | 7.363636 | 6.902439 | 7.857143 | 5.12766 |
Fuqua | 4.933333 | 7.520833 | 6.888889 | 6.071429 | 7.309524 | 5.1875 |
KenanFlagler | 5.410256 | 6.113636 | 6.210526 | 6.588235 | 6.605263 | 5.05 |
Statistics Unlocking The Power Of Data
ISBN: 9780470601877
1st Edition
Authors: Robin H. Lock, Patti Frazer Lock, Kari Lock Morgan, Eric F. Lock, Dennis F. Lock