What is Conjoint Analysis?

Conjoint analysis is a straight forward yet sophisticated approach to determining the true value that decision makers place on the features that make up a product. It clearly pinpoints the way your target market will behave when faced with a series of purchase choices.

The art is in the solution of product features or attributes to use for a particular problem and how to present the choice sets. The science is in the computation of utilities and the simulation of different competitive scenarios.

Conjoint analysis forces a series of tradeoffs between competitive versions of a product/source. Product features (or attributes) are carefully constructed to address all valid combinations. We then analyze the choices made to determine what value the respondent had to place on each level of each product feature to have made the pattern of choices they made.