Exam 21: Multidimensional Scaling and Conjoint Analysis

If the input to MDS is binary data, the determination of whether an attribute is associated with a brand or an object is done through correspondence analysis

In theory, before respondents can knowledgeably make trade-offs, they must compare different attributes and evaluate the desirability of the various levels of each attribute.

Non-attribute-based similarity MDS solutions have the advantage of producing dimensions that are easy to interpret.

When there is a need to reduce the number of attributes in a study, factor analysis has an advantage over discriminant analysis in that a significance test can be done of the output of factor analysis.

The objective of multidimensional scaling is a) predict buying or usage of product that may still be in concept stage b) to address the general problem of positioning objects in perceptual space c) group individuals or objects into groups d) none of the above

The greater the difference between the highest and lowest valued levels of an attribute, the less important the attribute.

Discriminant analysis does not provide a test of statistical significance

In a scaling solution, the most frequent trade-off is between minimizing the number of dimensions in the solution and maximizing the degree of fit.

The product "widget" is marketed by ten companies under at least 14 brand names. It is generally agreed that consumers perceive and evaluate the widgets as a whole.Under the circumstances, the results of an attribute-based MDS solution will be more valid than a non-attribute-based MDS solution.

Which of the following statements concerning the full profile approach is not true?

A limitation in the use of conjoint analysis is the necessity of dividing each attribute level into discrete levels.

In MDS, when the number of dimensions increases, the stress value increases

Multidimensional scaling involves two steps.First, objects need to be positioned.Second, the dimensions upon which customers perceive or evaluate objects must be determined.

Two objects could be very different in a similarity-based perceptual map, but could be regarded as very similar in a preference-based perceptual map.

The pair-wise trade-off approach produces concepts that are more realistic than those of the full profile approach.

The output of MDS is the location of the objects on the dimensions, termed as perceptual map

A source of error results with an attribute-based MDS if the list of attributes is not accurate and complete.

Conjoint analysis has been found to have reliability problems in that different implications tend to arise if the full profile method is used instead of the trade-off approach.

Utility measurements from conjoint analysis can be used to develop marketing simulations.

An ideal object is one the customer would prefer over all other objects included in the space.An ideal object need not actually exist.