conjoint analysis


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Fig. 24 Conjoint analysis. Rating scores for television sets.

conjoint analysis

a MARKETING RESEARCH technique which involves potential buyers in assigning ordinal rankings to attributes possessed by varieties of a particular product.

In assessing television sets, for instance, conjoint analysis would rate particular BRANDS on the characteristics of sound quality, picture quality and layout of controls (see Fig. 24). A ‘conjunctive buyer’ would distinguish between the alternative brands by requiring minimum performance standards for every attribute, rejecting brands which fail to meet these standards. For example, a consumer might set minimum standards of 5 for picture and sound quality and 3 for layout of controls, in which case brands A and C would be rejected in favour of brand B.

By contrast, a ‘disjunctive buyer’ would select a brand by setting minimum attribute levels for only certain highly-regarded characteristics and would be indifferent about other attributes.

Conjoint analysis is used to develop product brands which contain combinations of attributes in proportions which appeal to the mass of consumers or to particular MARKET SEGMENTS.

References in periodicals archive ?
Conjoint analysis is an experimental method for measuring consumers' preferences for a product or service (Green & Srinivasan, 1978).
Conjoint analysis works like an experiment but without the costs and risks.
Conjoint analysis (also called Discrete Choice Analysis or sometimes MaxDiff) is an advanced market research strategy used in medtech to understand how end users make decisions and what they really value in medical device products and services.
Conjoint analysis (also called Discrete Choice Analysis or sometimes MaxDiff) is an advanced market research strategy used in medtech to understand how surgeons (and more often now, payers and patients) make decisions about what they really value in medical device products and services.
The real power of conjoint analysis is the ability to predict the conditions that were not rated by the subjects.
In recent years, conjoint analysis has been used in studies on professional sport marketing for examining fan preferences (Aiken & Koch, 2009), ticket pricing strategies (Lee & Kang, 2011), and price sensitivities (Daniel & Johnson, 2004).
The conjoint analysis technique they used can provide direction for international food firms that want to develop novel foods and beverages which reflect the needs and preferences of specific consumers.
We demonstrate how conjoint analysis can be used to assess the appeal of message characteristics when designing communications, including but not necessarily limited to research synopses, for entrepreneurs or other target groups.
* Conjoint analysis is used to analyze and forecast consumer behavior in relation to new products to be launched on the market or enhancements to existing products.
By employing conjoint analysis, the study is able to determine empirically which criteria used in the decisions to participate in CE actions are significant.
Conjoint analysis is a technique used for assessing consumer product preferences that has increasingly been applied to health care services and technologies.
The March Group currently represents a dynamic and growing business-to-business market research firm providing a wide variety of services, including new market and product assessments, market profiles/trends analysis, conjoint analysis, customer needs/requirements analysis, customer satisfaction measurements, branding studies, pricing studies and related services.