Which of the following is true of conjoint analysis?
A) It is simple method for ranking objects or ideas on a number of different dimensions.
B) It is used by managers to compare their desired balance of projects with their actual balance of projects.
C) It involves the creation of a hypothetical efficiency frontier.
D) It is most commonly used to assess the relative importance to customers of different product attributes.

Question

Quizplus · Accepted Answer

Conjoint analysis is a research method commonly used to determine the relative importance and preferences of different product or service features or attributes to customers. It helps in finding out what combination of features will work best in a product or service to satisfy customers. Thus, option D is the correct answer. Option A is referring to ranking analysis, option B is referring to project portfolio analysis, and option C is referring to frontier analysis, which are different from conjoint analysis.

Which of the Following Is True of Conjoint Analysis