Conjont Analysis: Self Explicated, Full Profile, Choice Based

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. 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?"

Depending on the type of conjoint survey conducted, statistical methods like ordinary least squares regression, weighted least squares regression, and logit analysis are used to translate respondent answers into importance values and utilities. 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.

In conjoint analysis, the relationships between each of the features and levels are evaluated. The goal is to reveal the underlying value respondents would consciously or subconsciously place on profiles that represent full product configurations.

Using the Question Wizard, you can build and deploy a conjoint question set in under 20 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 M. Smith, Ph.D.
smsmith@edusurveys.com
(801) 705-4950