Briefly Describe the Purpose of Facets Model of Effects

question 71

Essay

Briefly describe the purpose of Facets Model of Effects.What are the six types of consumer responses the model posits?

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Definitions:

Conjoint Analysis

A statistical technique used in market research to determine how consumers value different attributes that make up a product or service.

Trade-Offs

The process of balancing conflicting needs or benefits in a given situation, often requiring compromise.

User Benefits

Advantages or positive outcomes that end-users experience from using a product, service, or system.

Brand Tracking

The process of monitoring changes in consumer perceptions and attitudes towards a brand over time, often through regular surveys.