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Question 4 Suppose in enhancing its image Medin Hyperstore has identified four attributes, namely, store appearance, "M' loyalty card, development of own products, and launching a new mini branch. As a marketing manager, you have collected the related data and by applying Conjoint Analysis, would like to determine whether consumer place more value on certain attributes. Table 1 shows the conjoint survey profile. The importance calculations for the survey data is given in Table 2. Table 1: Conjoint Survey Profile Attribute Store appearance Loyalty card Own product development Profile A Local ambiance Optional Depend on local small businesses Important Profile B Upscale Compulsory Develop generic product Launch of new mini branch Less important Attribute Level 1 Level 2 Level 1 Level 2 Level 1 Table 2: Importance calculations for Medin attribute data Description Part-worth Attribute Relative Importance Importance Local ambiance 1.762 3.524 0.600 Upscale -1.762 Optional 0.244 0.489 0.083 Compulsory -0.244 Depend on local small 0.598 1.198 0.203 businesses Develop generic product -0.598 Important 0.337 0.674 0.115 Less important -0.337 Level 2 Level 1 Level 2 a. Based on the part-worths in Table 2, illustrate the conjoint part-worth estimates of the four attributes. b. Comment on the overall preference for the combination of attribute profiles to determine the most feasible store image Medin might consider bringing into the market c. Outline 3 main disadvantages of Conjoint Analysis. Question 4 Suppose in enhancing its image Medin Hyperstore has identified four attributes, namely, store appearance, "M' loyalty card, development of own products, and launching a new mini branch. As a marketing manager, you have collected the related data and by applying Conjoint Analysis, would like to determine whether consumer place more value on certain attributes. Table 1 shows the conjoint survey profile. The importance calculations for the survey data is given in Table 2. Table 1: Conjoint Survey Profile Attribute Store appearance Loyalty card Own product development Profile A Local ambiance Optional Depend on local small businesses Important Profile B Upscale Compulsory Develop generic product Launch of new mini branch Less important Attribute Level 1 Level 2 Level 1 Level 2 Level 1 Table 2: Importance calculations for Medin attribute data Description Part-worth Attribute Relative Importance Importance Local ambiance 1.762 3.524 0.600 Upscale -1.762 Optional 0.244 0.489 0.083 Compulsory -0.244 Depend on local small 0.598 1.198 0.203 businesses Develop generic product -0.598 Important 0.337 0.674 0.115 Less important -0.337 Level 2 Level 1 Level 2 a. Based on the part-worths in Table 2, illustrate the conjoint part-worth estimates of the four attributes. b. Comment on the overall preference for the combination of attribute profiles to determine the most feasible store image Medin might consider bringing into the market c. Outline 3 main disadvantages of Conjoint Analysis

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