Conjoint analysis is used in market research to understand how specific attributes of a product or service are valued by those buying or using that product or service. The overarching aim of conjoint analysis is to understand which combination of a set number of attributes makes the product the most desirable. Conjoint works through implicitly assigning a value to each attribute of a product by showing respondents a controlled number of similar products and asking them to rate their preferences.
For instance, respondents might be shown a number of training shoes, with varying price points, colours, laces, levels of support and expected lifetimes. Conjoint analysis could then be used to provide the manufacturer with the combination of these factors which would be most likely to sell in a given market.
DJS Research offers conjoint analysis as one of many techniques used in analysis.
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