Risk and Reward

What is Conjoint Analysis?

Conjoint Analysis is used when a brand wants to know how important different elements of a decision are. We know from neuroscience that people (people like you and me) cannot put numeric values to how important is, say, flying direct versus flying on your preferred airline. But brands need numeric values when they seek to maximise revenue, profit, customer choice and satisfaction. Consider an organisation producing tablets, perhaps a competitor to the Apple iPad and Samsung Galaxy. The organisation needs to understand how different customers value Attributes such as Size, Brand, Price, and Battery Length. Armed with this information they can create their product range and offering. Conjoint Analysis seeks to assign values to these product Attributes and Levels by creating realistic choices and asking people to evaluate them. Maths are then used to calculate what the underlying values are. Example In the case of Choice-Based Conjoint Analysis (currently the most popular form of Conjoint Analysis) participants are shown a series of options, like the one below, and asked to select the one they would be most likely to buy. Choice-Based Conjoint asks people to pick the option they would be most likely to buy, other forms of Conjoint Analysis […]


Stepping Outside our Comfort Zone – re:publica, Berlin, 2016

Guest Post by Daniel Fazekas from Bakamo.Social Around this time last year Ray Poynter invited researchers to a “collaborative review of social media research”. The idea was to showcase social media research to the MRX community.. The findings across all the submitted studies pointed in one direction: we as an industry are failing to make a difference. We are introverts, who fancy to talk to ourselves rather than the world around us. The conclusion was: this needs to change, if we do not want other industries – consultants, or a silicon valley algorithm to take our piece of the pie. One tangible recommendation Ray highlighted was to attend conferences and events outside our comfort zone. So we did – and want to share our experience. The conference: re:publica is digital culture conference – an incredible event with about 8000 people attending for three days in an abandoned railway shed, bringing together people from marketing, journalism, politics, technology, artists, activists, students, start-up entrepreneurs and of course a Berlin-must: tons of hipsters. What connects them is a shared belief in the positive force of connectivity on society. Here’s a link – have a look: https://re-publica.de/en We took a booth and a staff […]