Conjoint analysis

Marketers love to get into the heads of their target group to learn what it is that moves them. Conjoint analysis facilitates this process like no other research method. Conjoint analysis can answer the following questions:

  • Which features add the most value to my product or service?
  • Are there customer segments with clearly defined preferences?
  • What is the price sensitivity of my product or service and what is the optimal price?
  • What is the optimal configuration of my new product or service?
  • To what extent does my new product cannibalize on my existing offering(s)?
  • Which products or services from other suppliers are my strongest competitors?

The answers are derived using a special interviewing technique where consumers are exposed to a choice-experiment. With the results of a conjoint analysis study the marketer can develop a vision on the market before the introduction or modification of a product or service. Compared to other research methods with the same objective, conjoint analysis is many times more effective, versatile and cost efficient.