Final answer:
Conjoint Analysis is a valuation method that uses direct or stated preference to measure people's preferences for different attributes of a product or service.
Step-by-step explanation:
The valuation method that uses a direct or stated preference is the Conjoint Analysis. Conjoint Analysis is a market research technique that allows for the measurement of people's preferences for different attributes of a product or service. It directly asks consumers to state their preferences among a set of alternative products or services.
For example, if a company wants to determine which features of a smartphone are most important to consumers, they can conduct a conjoint analysis by asking consumers to rank different smartphones based on attributes like price, camera quality, battery life, and screen size.
Conjoint Analysis is widely used in marketing research to understand consumer preferences and make informed business decisions.