Understanding value drivers for products using conjoint analysis

Conjoint analysis is a powerful way of getting under the skin of customer decision making. The aim is to show realistic looking products and services created from a mix of potential features (attributes and levels) in order to understand what customers would choose. By capturing those choices we can build models of customer preference.

Our resources section provides a full description of what conjoint analysis is, and demonstrations and online applications for exploring and designing conjoint including our Conjoint Explorer for building and exploring different conjoint designs.

Conjoint for better product management and pricing

The skill with product-based planning and research is in making understanding realistic choices that people make, so any research should genuinely reflect the decisions a purchaser would make. When customers are choosing a product, they face alternative offers and need to consider the product range, including price and feature trade-offs. A product planner needs to understand how customers choose and how to create 'bundles of value' to meet different purchasing groups.

Our survey platform Cxoice was designed to allow us to build realistic conjoint and trade-off tasks that can be shown on-screen in surveys, use as online shopping mock-ups, or can be used over the telephone as part of our Web-assisted Telephone Interview where we show and talk at the same time.

We have been doing Conjoint analysis or Discrete Choice Modelling for more than 25 years, with software, tools and published papers on conjoint analysis and trade-off techniques.

Building for real market conditions

For any new product, businesses need to understand real market potential. Conjoint and market research needs to be triangulated with other market data, including the views of your product and sales teams. We bring skills in market intelligence to scope out the size of the market, qualitative skils to identify the core features and benefits and to validate new concepts, before taking designs forwards into quantitative conjoint and trade-off tests to estimate share, sales and optimisation points.

We design research to our clients needs, but we also design to reflect reality, and can recommend how to plan the steps needed to take a product through from scoping to concept tests, to design evalutions and on to market forecasting and range planning.

Tell us about your product roadmap and we can design and build the right research solution to get the right price points, to get the right feature balance, and to estimate demand and take-up.

For help and advice on conjoint analysis or trade-off research contact info@dobney.com