Select any product and design a conjoint study of its different components

Statistics Jan 06, 2022

Select any product and design a conjoint study of its different components. Collect data for the conjoint study ideally from at least 500 respondents. Perform the conjoint analysis for each of the respondents, and apply cluster analysis of the component utilities to segment the respondents. Accordingly, identify the optimal product combination for each segment, and the product combination that maximises the market share across the segments. Interpret your findings in detail.