Conjoint Analysis

Marketing Workshop is proficient with Conjoint Analytics and engages the techniques to drill down and hone in on how consumers make decisions and what they truly value about your products/services.  Consumers are presented with choices which are cross referenced with the attributes identified as important  to arrive  at the drivers of choice.

As consumers, we typically have options and consciously or subconsciously process the trade-offs. Is high quality more important than a low price and quick delivery, for instance? Or, is good service more important than design and looks? Or, are improvements in efficacy outweighed by adverse effects for health care products?

Marketing Workshop designs a study around a Conjoint Analysis when we need to understand how the buying market values the elements of your products/services, and direct your product development focus and optimization.

How it Works
The survey design includes a choice-based exercise that resembles real-world situations. Models are subsequently built that help to explain the importance of attributes and the preference of certain levels by consumers.

Why it Works
We analyze the results and provide you with guidance regarding the factors (attributes) and levels, including price, that would benefit from focus and consideration. Simulators are provided that allow you to work through various “what-if” scenarios as market conditions change or as you explore other curiosities.

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