Market Analysis Assignment Example | Topics and Well Written Essays - 1250 words

Market Analysis - Assignment Example In the course of the Choice-based study, I looked at three main attributes: Region, Brand and Price. Each attribute had two main options. Region had a not well-known region and well known region. Brand had a not well-known brand and well-known brand. Finally, price had low and high price. Each choice set was accompanied by three distinct alternatives. The two options assigned to each factor were based on the evaluation of the desired choice. In conjoint analysis, the two options are referred to as levels. To be able to have a clear understanding of the attributes and levels of the product (wine) each attribute encompassed a number of aspects. For instance, brand included aspects such as the producer, distributer and the retailer while region mainly represented the location of the product that is the manufacturing place and distribution place. The advantage of using a conjoint analysis is because it provides a choice that is discrete and it is able to put a dollar value on the attributes and their levels. This study adapted a choice based conjoint category where every respondent selects only one alternative based on the on a given choice set. However, the choices may tend not to contain all the alternatives (Wiley, 2010, p.36). Below is a table showing a summary of the product attributes and the levels that were tested in this analysis: Given the choice set of the response alternatives for the eight choice design set, the conjoint model is mainly used to determine the overall best alternative based on the choices within the attribute utility scores. A choice set refers to a set of alternatives. In the course of determining the best alternative, the respondent may not be in a position to use all the alternatives that are present. The utility scores derived from the Choice-Based study with an increase of $ 5 in price are represented in the table below: Each attribute level score together with the scores