The Power of Conjoint Analysis and Choice Modelling in Online Surveys
The Internet has created new opportunities to use multivariate techniques such as Conjoint Analysis and Brand Price Trade Off. This is not only because, typical, sample sizes for online surveys are larger but also because surveys can be programmed to utilise more complex designs than would have been possible on paper. At the same time there have been tremendous advances in the mathematics underlying this field, introducing exciting new opportunities such as Hierarchical Bayes, which are themselves dependent on increased computing power.
This paper reviews how state-of-the-art conjoint and choice modelling is being implemented via the Internet, and makes observations about what is likely to happen next.
THE ORIGINS OF CONJOINT ANALYSIS