Conjoint research is a statistical means of knowing what customers like and what influences them to make the decisions on the said products. The aim of this study is to be able to model customer products and services to either create demand or to conquer competitive markets.

To understand the principals behind conjoint analysis, we must first break a service or product to the basic parts it’s composed of, called attributes and levels. These parts are the ones tested to evaluate the customer preferences. These parts are then combined together using statistical designs and techniques in a way that they can be easily tested to determine the customers’ preference.

A well designed study using experimental designs is capable of using statistical analysis to calculate the value or utility score of every part of the service or product so that the reason why the customer made the decision is finally arrived at.

The simplest example often used to illustrate ... Read more »