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Updated on: 29 Oct 2023, 03:54
Originally posted by Sajjad1994 on 10 Mar 2022, 08:00.
Last edited by BottomJee on 29 Oct 2023, 03:54, edited 2 times in total.
Last edited by BottomJee on 29 Oct 2023, 03:54, edited 2 times in total.
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Marketers theorize that consumers’ purchase decisions are driven by the perception of value. This perception, often obtained through a cost-benefit analysis, can be manipulated by adding more features or by reducing the price. This is called the expectancy-value model. Let’s see an example.
Jack, who wants to purchase a laptop, has narrowed down his choices to 4 brands of laptop computers (A, B, C, D). He 1s interested in 5 attributes: Processor Performance (PP), Graphics Capability (GC), Size & Weight (SW), Battery life (BL), & Marked Price (MP) and is evaluating the offerings based on the same. Jack puts 30% priority on Processor Performance, 10% on Graphic Capability, and equal priority on Size & Weight, Battery life, and Price. He comes up with a number called Composite Attribute Value that is the weighted average of the performance of a brand’s offering against Jack’s priorities.
Each attribute is rated from 0 to 10, where 10 represents the highest performance.
Jack, who wants to purchase a laptop, has narrowed down his choices to 4 brands of laptop computers (A, B, C, D). He 1s interested in 5 attributes: Processor Performance (PP), Graphics Capability (GC), Size & Weight (SW), Battery life (BL), & Marked Price (MP) and is evaluating the offerings based on the same. Jack puts 30% priority on Processor Performance, 10% on Graphic Capability, and equal priority on Size & Weight, Battery life, and Price. He comes up with a number called Composite Attribute Value that is the weighted average of the performance of a brand’s offering against Jack’s priorities.
Each attribute is rated from 0 to 10, where 10 represents the highest performance.
Composite Attribute Value for Jack is greatest for brand A.: No
Jack purchase brand A based on customer value.: Yes
Brand C scores lowest both in terms of customer value and Customer benefit.: Yes
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
95%
(hard)
Question Stats:
41% (04:54) correct
59%
(03:55)
wrong
based on 495
sessions
History
Date
Time
Result
Not Attempted Yet
1. Consider each of the information given in tabs. Does the information in three tabs support the inference as stated below?
| Yes | No | |
| Composite Attribute Value for Jack is greatest for brand A. | ||
| Jack purchase brand A based on customer value. | ||
| Brand C scores lowest both in terms of customer value and Customer benefit. |
ShowHide Answer
Official Answer
Composite Attribute Value for Jack is greatest for brand A.: No
Jack purchase brand A based on customer value.: Yes
Brand C scores lowest both in terms of customer value and Customer benefit.: Yes
\(X=\frac{Y(Z-5)}{5}\)
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
76% (01:30) correct
24%
(01:32)
wrong
based on 474
sessions
History
Date
Time
Result
Not Attempted Yet
2. Let X denote Customer Value, Y denote Customer Cost, and let Z denote Composite Attribute Value. Which of the following algebraic expressions represents relationship among X, Y & Z?
| \(X=\frac{Y(Z-5)}{5}\) | |
| \(X=\frac{4}{5*Y*Z}\) | |
| \(X=\frac{Y(5-Z)}{5}\) | |
| \(X=\frac{Y}{5(5-Z)}\) | |
| \(X=\frac{YZ-5Z}{5}\) |
ShowHide Answer
Official Answer
\(X=\frac{Y(Z-5)}{5}\)
Reduce the marked price to $60.: No
Add a faster processor to increases its Processor Performance rating to 9.: Yes
Improve its graphics capability to the highest possible ranking.: Yes
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
75%
(hard)
Question Stats:
47% (01:47) correct
53%
(01:38)
wrong
based on 497
sessions
History
Date
Time
Result
Not Attempted Yet
3. If Jack will decide buying laptop based on Customer Value, which of the possible strategies should company C implement so that it becomes Jack’s preferred choice?
| Yes | No | |
| Reduce the marked price to $60. | ||
| Add a faster processor to increases its Processor Performance rating to 9. | ||
| Improve its graphics capability to the highest possible ranking. |
ShowHide Answer
Official Answer
Reduce the marked price to $60.: No
Add a faster processor to increases its Processor Performance rating to 9.: Yes
Improve its graphics capability to the highest possible ranking.: Yes
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11 Mar 2022, 10:17
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Competition mode is off now.
OAs are:
Question #1:
No, Yes, and Yes
Question #2:
A
Question #3:
No, Yes, and Yes
OAs are:
Question #1:
No, Yes, and Yes
Question #2:
A
Question #3:
No, Yes, and Yes
09 Jun 2024, 06:03
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