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B&A provide a wide variety of the latest statistical approaches in pricing and decision modelling studies. These include Non-conjoint options (Surplus, Gabor Granger, Concept Test (WTP), BPTO, Van Westendorp) and Conjoint application (Choice based Conjoint, or CBC, and Maximum Difference scaling (“MaxDiff”)).
What is Conjoint Analysis?
Conjoint Analysis is a technique initially developed by psychologists in early 70s when academics were interested in understanding how people made decisions. When we employ only direct questioning in certain areas, people tend to say what they think the interviewer wants to hear (politically / socially correct answers), or what is top-of-mind. Their answers may not reflect what they are likely to do in reality.
When to use Conjoint Analysis?
The power of conjoint lies in capturing what really drives people when choosing one product or service instead of another. It is particularly useful when the choice involves a trade-off between product features and price and gives valuable information on individuals’ willingness to pay for additional features or services. Conjoint techniques can also be used to assess the relative importance of these features when people make their choices.
Different Conjoint Methodologies
There are a variety of conjoint methodologies, such as Choice-Based Conjoint (CBC) and Maximum Difference Scaling (MaxDiff). The research issue or problem may necessitate a specific approach.
Talk to our Senior Data Analyst, Dr. Nigel Tapley, to learn more.
For 30 years we have been Ireland's leading and most innovative provider of market research and consumer insight solutions. We have evolved from being a small 'boutique' agency with core qualitative expertise, to being the largest Independent agency with a genuinely solution-neutral focus. We are as dynamic and creative quantitatively as we are thorough and meticulous qualitatively.