If a Consumer Considered Four Attributes to Be Important in the Purchase

question 27

Multiple Choice

If a consumer considered four attributes to be important in the purchase of a TV, by using _____ the researcher might be able to determine the trade-offs between the different product attributes (such as purchase price or number of channels that could be received) when the consumer evaluated the alternatives for eventual purchase.

• A)chi-square
• B)correlation analysis
• C)focus groups
• D)regression analysis
• E)conjoint analysis

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Definitions:

Reservation Price

The absolute highest price that a buyer is prepared to pay for a product or service.

English Auction

A type of auction in which prices start low and bid up by participants until no higher bids are offered.

Willingness To Pay

The maximum amount an individual is prepared to spend to acquire a good or service or avoid something undesirable.

Expected Revenue

The average amount of money a company anticipates receiving over a specific period based on probable sales or services provided.