Self Explicated Conjoint Analysis

Conjoint Analysis is an advanced analytical technique used to determine the joint influence that feature and level combinations of a product or service have on the purchase decisions. For a car, features (and levels) would such descriptors as vehicle type (Sedan, SUV, Van); color (white, silver, black); price ($20,000, $25,000, $30,000, $35,000). In other words, using conjoint analysis, you could estimate how much respondents value a silver SUV priced at $35,000... or any other combination of attributes and levels.

A properly designed conjoint analysis study allows any combination of features and levels to be profiled to estimate market or choice share. Competing profiles enable such questions as "What impact will our new product formulation have on our market share?", "What happens if our competitors introduce product formulation X?", or "What feature set would our customers like best?"

Conjoint analysis methodology has withstood intense scrutiny from both academics and professional researchers over the past 25 years and is widely used in consumer products, durable goods, pharmaceutical, transportation and service industries.

Conjoint analysis involves a series of questions that are presented to the respondent based on the features and levels being evaluated. The method determines the desirability and the importance of each feature and level. The goal is to reveal the underlying value respondents would consciously or subconsciously place on profiles that represent full product configurations.

Using the Conjoint Question Wizard, you can build and deploy a conjoint question set in just a few minutes if you know the Features/Levels for the product/service that you want to evaluate, the Survey Engine handles all the complex logic of preparing questions for feature and level presentation. [View Live Demo] (New Window)

If you are interested in conducting a conjoint analysis study, please contact:

Scott Smith, Ph.D.
smsmith@surveytime.com
(801) 705-4950