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 QuestionPro offers consumer researchers a balance of flexibility and sophistication that is hard to find in other online survey services.
Lauren Tucker
Vice President, Group Planning Director
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Conjoint Analysis Software for Market Research
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Conjoint Analysis -- Self Explicated and Discrete Choice Models (Full Profile)
What is Conjoint Analysis?
Conjoint Analysis is a model and technique used to assess the different weights individuals place on the variables presented to them in a given purchase situation. For example, if a consumer decides to buy a house there are a couple of distinct variables involved:
- Purchase Price
- Size (Sq. Feet)
- Quality of Bathrooms/Kitchens
- Proximity to Schools
A conjoint study usually involves showing respondents product profiles and asking them to indicate (in a variety of ways) how much they like or prefer these alternative product profiles. Statistics are then used to work out the contribution that each product attribute is making to the overall likeability.
What are the different types of conjoint analysis?
There are primarily three distinct variations:
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Self-Explicated Model - In this model, the respondents are asked "direct" questions about the desirability of a particular list of products and profiles.
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Discrete Choice - Here respondents are asked to choose between multiple products and the relative weights for each of the attributes are calculated indirectly.
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Ratings Based Conjoint - Here respondents are asked to "Rate" the likelihood of purchase for two products at a time.
At this time, QuestionPro supports all three models; Self-Explicated, Discrete Choice and Ratings Based.
What about Analysis tools and Reports?
The following toolsets are available for all of the conjoint models:
- Raw data with the calculated utilities
- Relative Importance of Attributes and Levels
- Market Segmentation and Utility Simulator
Examples:
Links:
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This article was published in Quirks Marketing Research Magazine in its March 2007. The article is authored by Vivek Bhaskaran, President & CEO of Survey Analytics.
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