Praveen Kumar Praveen 297

8/11/2019 Praveen Kumar Praveen 297

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Customer Analytics for New Product Development

Final Exam

______________________________________________________

Instructions:

This exam is an open book, open notes exam. However, you are expected to

complete the exam on your own, without help from classmates or others.

Please type your answers in this document. After completion, submit this document

to LMS.

There are 8 pages in the Exam Booklet.

You have two hours for the exam.

The total points for this exam is 100, and this exam is worth 30% of your final grade.

All the best!


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Question 1 (30 points)

Focus on any product or service.

(1a) Describe the product or service in terms of benefits to the customer.

Answer :- Considering an example of a hot water system. The system sprang a leak

yesterday when the cylinder lining the tank cracked.

In this example, the benefit uppermost for the customer is hot showers . Other advantage

is that customer can install it by himself . The feature we can consider here as installation

service. Which brand, gas or electric and what level of temperature condition and how

quickly system gets installed .

(1b) You are asked to conduct a segmentation study for this product or service. Construct

a survey (questionnaire) with 10-12 questions, clearly specifying what the basis and

descriptor questions are. No open-ended questions are allowed; all questions must be

given in a form so that when data are collected, tools like Cluster Analysis can be used.

Please do not use questions seen in your assignments or from MeXL

Q.1. Please select customer gender ?

Male Female

Q.2. Please select Marital Status:

Single Married

Q.3. Please select an purpose :

Official use domestic use

Q.4. Type of system you like:

Electric Manual Gas coal

Q.5. what parts of the "look and feel" of the hot wtaer system are important to you when

choosing one? "Feel free to rate more than one option"


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FEATURES 1(lowest) 2 3 4 5(Highest)

colour

functionality

Weight

Brand

Engine capacity

Eclectric consumption

Q.6 How important is the design or style (Look and Feel) of a Laptop to you as opposed to

functionality?

NOT IMP Fairly IMP Very IMP Extremely Imp

Q.7. What size of the Laptop would you prefer?

Small Medium Large

Q8. Number of family members in house

2 3 4 5

Q9. How often you use the system

Very Often oftenly rarely

Question (2): 30 points

Design a Conjoint Study, with 3 attributes, with Price being one of the attributes. List 2-

3 levels for each attribute. Use MeXL to create bundles for data collection. Act as a

respondent in this Conjoint Analysis, and estimate your partworth utilities. (Hint: you

have done this in your Kirin Beer assignment).

njoint Study Design

ributes and attribute levels of the Conjoint study.

ributes / Levels Level 1 Level 2 Level 3

del 1980 2000 2010

e 800 900 300

our Black white red

ndles


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Answer :- Considered an example of Car model and their price .

spondents' Preference Partworths

pondents' preference partworths. The most preferred profiles sum up to 100, the least preferred to 0.

pondents /ributes and Levels

1980 2000 2010 800 900 300 Black

pondent 1 0 37 52 0 20 15

(2a) Provide graphs to illustrate your utilities for each attribute

1980, 20%

2000, 30%

2010, 50%

1980

2000

2010

ribute levels for a full-profile, fractional design Conjoint study

ributes / Bundles Bundle 1 Bundle 2 Bundle 3 Bundle 4 Bundle 5 Bundle 6

del 1980 1980 1980 2000 2000 2000

e 800 900 300 800 900 300

our Black white red white red Black


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Need to Define the market in which the product or brand will compete .

Need to look into the target market and their preferred combination of attributes

Need to examine the fit between the product and the market.


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Question (4): 15 points

Explain a step-by-step process as to how you would use Conjoint Analysis to estimate the

incremental price to be charged for a product with a new feature, such that its market share

remains constant. In other words, how much more can you charge for a product with a new

feature so that the market share beforethe addition of the new feature, and afterthe

addition of the new feature stays constant?

Answer :-

Following steps can be perform :-

First create analysis template and then check option for existing Profile products . Need to

describe these existing products if we plan to study the market potential of new offerings .

If the current market if given to us then we can include shares of existing products to get a

more precise relationship between preferences . We can allocate a specific price to each

level in such a way that market share remains constant .In final step , we can generate

workbook for Existing Product Profiles and Incremental Revenue .

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Praveen Kumar Praveen 297