This analytical technique helps determine what features a new product or service should have and how it should be priced.
A)factor analysis
B)perceptual mapping
C)multiple discriminant analysis
D)conjoint analysis

Question

Quizplus · Accepted Answer

Conjoint analysis is a technique that combines different product features and pricing options to identify the optimal combination that would be most appealing to consumers. It allows researchers to understand the tradeoffs that consumers make when choosing between different product options and helps in identifying the most valuable attributes that should be included in a product or service. Therefore, Conjoint analysis is the best choice for determining product features and pricing.

This Analytical Technique Helps Determine What Features a New Product