Idealween“Conjoint analysis is a statistical technique, originated in mathematical psychology, that is used to determine how people value different features that make up an individual product or service.”
This popular research technique was initially developed by psychologists in the early 70s, interested in understanding how people make decisions. By directly asking how and why – assuming a conscious decision making process – people might respond in line with what is top of mind or what they believe the interviewer wants to hear (politically / socially correct answers). The answers don’t necessarily reflect what one would actually do, choose or buy. Choices involve trade-offs and compromises.
The key characteristic of conjoint analysis is that a product is composed of multiple conjoined elements (attributes or features). Based on how the combined elements (product concepts) are evaluated, the underlying preference structure can be determined.
Over time, we know exactly when to use which method, and how to best apply it. No matter how complex your business question is, our methodologists gladly use their creativity to come up with novel – yet solid – research approaches to solve it.
