Assume that a consumer’s purchase decision on an electric razor is based on four attributes, each of which can be set at one of three levels (1, 2, or 3). Using conjoint analysis (a type of analysis used in marketing research), our analysts have divided the market into five segments (labeled as customers 1, 2, 3, 4, and 5) and have determined the “part-worth” that each customer gives to each level of each attribute. These are listed in the file P08_40.xlsx. Conjoint analysis usually assumes the customer buys the product yielding the highest total part-worth. Currently there is a single product in the market that sets all four attributes equal to 1. You are going to sell two types of electric razors. Design a product line that maximizes the number of market segments that will buy your product. For example, if you design a product that is level 2 of each attribute, then customer 1 will not buy the product because he values the current product at 1 + 4 + 4 + 4 = 13 and values your product at 1 + 1 + 1 + 2 = 5. Assume that in the case of a tie, the consumer does not purchase your product.
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