Justin Conducts a Survey on Behalf of His Firm, Komatsu

question 71

Multiple Choice

Justin conducts a survey on behalf of his firm, Komatsu. In the survey, he asks prospects to rate Caterpillar and Komatsu branded tractors on their performance on attributes that are important to the customer. In which step in the customer value analysis is Justin engaged?

• A) Examine how customers in a specific segment rate the company's performance against a specific major competitor on an individual attribute or benefit basis.
• B) Assess the quantitative importance of the different attributes and benefits.
• C) Identify the major attributes and benefits customers value.
• D) Monitor customer values over time.
• E) Assess the company's and competitors' performances on the different customer values against their rated importance.

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Definitions:

Measure Of Central Tendency

A statistical concept that provides a single value as an estimate of the center of a distribution of values, commonly calculated as the mean, median, or mode.

Outlier

Numbers in a data set that are extreme values; calculate outliers in a data set by multiplying 1.5 times the IQR; subtract this product from Q1 to compute the boundary for lower outliers and add this value to Q3 to compute the boundary for upper outliers.

Average Bill

Refers to the mean amount charged for a service or product over a specified period, often used to estimate monthly or yearly expenses.

Linear Regression

A statistical method for modeling the relationship between a dependent variable and one or more independent variables by fitting a linear equation to observed data.