Reference no: EM132233834
Suppose you have been asked by a food company to design an experiment that examines consumers’ purchase intentions toward their product (i.e., cereals), as a result of their recent pricing strategies (i.e., low price, high price) and product quality (i.e., organic offerings, nonorganic offerings) strategies. Basically, they would like to know the best combination of product quality offering and pricing strategy that yields the highest levels of consumers’ purchase intentions. How would this experiment look like?
When working on this assignment, you should consider the following:
1. Subjects (i.e., Who should your experiment participants be? Be as specific as you can).
2. Experimental conditions: Independent Variables (i.e., What should your independent variables be?); Dependent Variable (i.e., What should your dependent variable be?).
3. Effects: What should your main effects be? How about the interaction effects?
4. Based on the interaction effects, what could you conclude?
5. How many cells (experimental conditions) would your subjects have to evaluate? Be as specific as you can, when describing these cells.
6. How will you be able to figure out if the purchase intentions for one combination/cell are higher/lower than the other combinations/cells?