using conjoint analysis to shape the message

Michael Lieberman
Multivariate Solutions

 

Conjoint analysis is in the 'trade off' family of market research techniques. It has proven to be profoundly useful in the market research field to help marketers shape new products, determine maximum levels of product enhancement, and predict market share. In addition, conjoint analysis can be used to identify the best advertising message by revealing the features that are most important in product choice.

Essentially, tradeoff analysis allows the researcher to throw all of his or her options such as various product features, price ranges, brand names, and so on into a carefully constructed questionnaire. Respondents are then asked a series of product purchase interest questions. The data are then run through the black box of conjoint procedures to yield mathematical results called utility scores. These models allow the researcher to simulate the marketplace in great detail with surprising accuracy.