Question

Bob at Bob's Furniture is looking at the results of some research about customers' ideas about his products. He learns that the attributes customers care most about are price and comfort. They care less about aesthetics and quality. The attributes on which Bob's product are doing worst are comfort and quality. Thy are doing best on price and aesthetics. What exactly is Bob looking at?

a) a conjoint analysis
b) a cluster analysis
c) a perceptual map based on MDS
d) a perceptual map that is attributes-based

Answer 1

The correct answer is letter "D": a perceptual map that is attribute-based.

Step-by-step explanation:

Perceptual mapping is a feature that allows market researchers to visually reflect the expectations of consumers of goods, features, brands, offers or services and provide the ability to react to changing conditions. It provides a unique capacity to comprehend the market structure, examine the complicated relationships between market participants and the parameters that consumers use to make buying decisions and suggestions.

In the example, after Bob's analysis, he concludes he must improve the comfort/quality attributes of the products he sells in his store.