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Choice-Based Conjoint Model for Evaluating Consumers’ Purchasing Preferences for Battery Electric Vehicle Attributes
Selective conjoint-analysis studies can utilize pictorial displays to evaluate consumer preferences of various brand-name products and use the results of this evaluation to construct the groundwork for strategic plans of different enterprises. This study adopted choice-based conjoint (CBC) analysis and asked car owners and prospective car buyers to select various electric vehicle properties. Then, the logit model was used to assess the consumers’ preferences. This study found that the top three consumer purchasing preferences for electric vehicle attributes were battery recharge time, range, and horsepower. When it releases new products, the automobile industry (or the various automobile enterprises) can use the results of this study in developing strategic plans and strengthening its competitive advantages. Hence, the results of this study have practical implications for the industry and research implications for future related studies.
Product attributes, consumer purchasing preferences, choice-based conjoint (CBC) analysis
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