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 […]