Question: Conjoint analysis is a method used to assess the financial value of specific product attributes. Drawing on your understanding of conjoint analysis and insights from
Conjoint analysis is a method used to assess the financial value of specific product attributes. Drawing on your understanding of conjoint analysis and insights from the Apple vs Samsung case study, explain the following:
How should a survey be designed and conducted for conjoint analysis vs open ended questionsHow can the financial value of a specific attribute be quantified? For example, how can the improvement of battery life from hours to hours be monetized?What role do prices play in monetizing attribute values?How can brand value be monetized using conjoint analysis?
Provide a stepbystep explanation using the concept of partworth utility. You do not need to present any equations.
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