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.

Better product planning

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.

Features, emotion, brand and prices

Product planning and development is one a businesses core future looking activities. At an engineering level, the company has to decide what features to build into, and to leave out of prospective products, and which products to build.

For any new product the business needs to understand its market potential often using market intelligence data to scope out the size of the market. It needs to validate new concepts, though recognising that radical designs may be difficult to communicate to unfamiliar buyers. The business needs to layout the features it should offer, and work out what and how to communicate to potential customers. It then needs promotional messages, branding and ultimately pricing and a route to market.

We design research to our clients needs 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 what your research issue is and we can design and build the right research solution for your needs, and for your budget.

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