Definition: Conjoint Analysis is a quantitative technique used in market research, product marketing and positioning to determine how consumers value different features that make up a product (or service).
The objective of CA is to find out what combinations of a limited number of attributes are most influential on respondents' choices or decision making.
CA works by showing a controlled set of potential products to respondents and then analyzing their preferences between these products to discover the implicit valuation of the individual elements making up the product.
These valuations can be used to optimize the profitability, revenues or market share of the product design.
Compare: Focus Groups.
© 2019 MBA Brief - Last updated: 22-5-2019 - Privacy | Terms