What is Conjoint Analysis?
Conjoint Analysis is an advanced market research technique. It is used to understand the user response for different attributes (feature, function, benefits) of a product or services.
Conjoint Analysis Example
Consider an organization producing tablets, perhaps a competitor to the Apple iPad and Samsung Galaxy. The organization 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.
What is Choice-based Conjoint Analysis (CBC)?
Choice-based Conjoint Analysis (CBC) is arguably the single most powerful analytic tool ever developed. With CBC, one can define the ideal product feature set, determine the price that maximizes profit, develop the most motivating communication strategies and segment the marketplace.
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