Exam 21: Multidimensional Scaling and Conjoint Analysis

Two of the approaches used to reduce the number of attributes on which brands of a product are ranked are discriminant analysis and multiple regression analysis.

A trade-off is made by giving up some amount of a less important attribute to get more of a more important attribute.

Multidimensional scaling addresses the general problem of positioning objects in a perceptual space.

An approach in which the respondents are given cards that describe complete product or service configurations is called

When each attribute is considered independently, respondents tend to indicate that only a few attributes are important.

A few respondents who are unfamiliar with the objects to be mapped should be included in generating a perceptual map to ensure adequate representation of the population.

The independent variable in conjoint analysis is the preference judgment that a respondent makes about a new concept.