By using our extensive “Statistical Toolbox” we often perform studies and specialized analyses that require higher order statistical capabilities. These studies require very careful design and execution to maximize the effectiveness of these techniques.

Conjoint analysis is a model and technique used to assess the different values individuals place on the product attributes presented to them in a given purchase situation. For example, if a consumer decides to buy a chocolate confectionary there are a couple of distinct attributes involved:

• High or low purchase price
• Nuts or no nuts
• Type of chocolate
• Size of bar
• Brand

A conjoint study usually involves showing the consumer numerous product profiles and asking them to the degree to which they prefer options for each of them. Statistics are then used to work out the contribution that each product attribute is making to the overall likeability.

Conjoint analysis is often used to find optimal price points, and the optimal combinations to use for the sale (either product features, or bundling multiple products and services together).

Moreover, we provide you with an interactive simulator that is easy to use, should you wish to conduct “what if” scenarios of your own.