Individual Assignment #3

Individual Assignment #3 – Due November 29th, 2018

 

Part 1: Conjoint Analysis

Complete a conjoint analysis for a winter jacket, following the “Understanding Conjoint” guide uploaded to Quercus. You can complete the rankings yourself or (for fun and education) have someone else do it.

Variable Level 1 Level 2 Level 3
Warmth Comfortable down to

-10°C

Comfortable down to

-30°C

Comfortable down to

-60°C

Price $600 $400 $200
Appearance Not at all stylish Stylish  

 

Complete the necessary tables for the conjoint analysis. Report the utility for each level of each variable. (7 pts)

How (if at all) would the rankings in your table change for someone who needed to use the coat for outdoor labour in Northern Ontario this winter? Why? (3 pts)

 

Part 2: Psychology of Pricing

Describe an example of psychology of pricing that you have seen in the real world. How could this phenomenon be used to help consumers? How could it be used to help firms? (4 pts)

Spelling / grammar / style (1 pt)

 

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