Question
In: Accounting
Burnside Marketing Research conducted a study for Barker Foods on several formulations for a new dry...
Burnside Marketing Research conducted a study for Barker Foods on several formulations for a new dry cereal. Three attributes were found to be most influential in determining which cereal had the best taste: ratio of wheat to corn in the cereal flake, type of sweetener (sugar, honey, or artificial), and the presence or absence of flavor bits. Seven children participated in taste tests and provided the following part-worths for the attributes (see section 13.4 ):
| Wheat/Corn | Sweetener | Flavor Bits | |||||
| Child | Low | High | Sugar | Honey | Artificial | Present | Absent |
| 1 | 15 | 35 | 30 | 40 | 25 | 15 | 9 |
| 2 | 30 | 20 | 40 | 35 | 35 | 8 | 11 |
| 3 | 40 | 25 | 20 | 40 | 10 | 7 | 14 |
| 4 | 35 | 30 | 25 | 20 | 30 | 15 | 18 |
| 5 | 25 | 40 | 40 | 20 | 35 | 18 | 14 |
| 6 | 20 | 25 | 20 | 35 | 30 | 16 | 9 |
| 7 | 30 | 15 | 40 | 25 | 40 | 20 | 11 |
| (a) | Suppose the overall utility (sum of part-worths) of the current favorite cereal is 75 for each child. What product design will maximize the number of children in the sample who prefer the new dry cereal. Note that a child will prefer the new dry cereal only if its overall utility is at least 1 part-worth larger then the utility of their current preferred cereal. | ||||||||
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Share of Choice |
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| (b) | Assume that the overall utility of the current favorite cereal for children 1 to 4 is 70, and the overall utility of the current favorite cereal for children 5 to 7 is 80. What product design will maximize the share of choice for the seven children in the sample? | ||||||||
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Share of Choice |
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Burnside Marketing Research conducted a study for Barker Foods on several formulations for a new dry...
Burnside Marketing Research conducted a study for Barker Foods
on several formulations for a new dry cereal. Three attributes were
found to be most influential in determining which cereal had the
best taste: ratio of wheat to corn in the cereal flake, type of
sweetener (sugar, honey, or artificial), and the presence or
absence of flavor bits. Seven children participated in taste tests
and provided the following part-worths for the attributes (see
section 13.4 ):
Wheat/Corn
Sweetener
Flavor Bits
Child...
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