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1. What is Trade-Off (Conjoint) analysis? What does it consist of?

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Answer:

Trade-off analysis is a group of methods that calculate the preferences of respondents of different product attributes (usually including price).

To calculate consumer preferences, understand how price changes influence product or service demand, and predict a product's likely acceptance when brought to market.

The benefits are calculated indirectly in certain situations.

They are one of marketing research's most commonly used quantitative methods.

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