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1 This eBook will provide a detailed explanation of different conjoint methods and how you can best apply them to lead to strong, data-driven decisions. Overview Conjoint Analysis AN IN-DEPTH UNDERSTANDING OF CONJOINT ANALYSIS AND ITS APPLICATIONS It’s Not Just for Products Anymore Contact Ken Donaven, Director at The Martec Group E. [email protected] P. 248.327.8021 C. 248-770-3640 www.martecgroup.com THE MARTEC GROUP Extraordinary. Intelligence.

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Page 1: Conjoint Analysis - martecgroup.com · Conjoint analysis is a powerful tool and can be used to quantify several metrics, including product/feature value, trade-offs customers are

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ThiseBookwillprovideadetailedexplanationof differentconjointmethodsandhowyoucanbestapplythemtoleadtostrong,data-drivendecisions.

Overview

Conjoint Analysis

AN IN-DEPTH UNDERSTANDING OF CONJOINT ANALYSIS AND ITS APPLICATIONS

It’s Not Just for Products Anymore

Contact KenDonaven,DirectoratTheMartecGroupE.ken.donaven@martecgroup.comP.248.327.8021C.248-770-3640www.martecgroup.com

THE MARTEC GROUPExtraordinary. Intelligence.

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FOREWORD

Who We Are

TheMartecGroupisaglobalmarketresearchfirmheadquarteredinDetroit,Michigan.Withover35yearsofexperience,Marteciswell-equippedtoprovideactionableintelligencetoleadingcompaniesworldwide.

ThepeopleofMartecallshareonetrait:we’remotivatedtoworkharderandbetterthanthecompetition.Weareunshakeablebelieversinexcellence,anddon’trestuntilourclientsareconfident they’rethesmartestonesintheroom.

Learnmoreaboutusonourwebsite.

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INTRODUCTION

Althoughitmaybeclichétostartwithastatementlike“throughoutthehistoryofcommerce,”inthiscasesuchagrandiose,all-encompassingstatementmaybejustified.Essentiallysincetheinventionofthewheel,productmanufacturershaveasked,“whatmakesmyproductvaluableandsetsitapartfromthecompetition?”and“howcanImaximizethevalue,priceandprofitformyproduct?”Manufacturersknowalltoowellthattherightfeatures– orcombinationoffeatures– canmakethedifferencebetweenahugesuccessandanunmitigatedfailure.However,determiningwhatbuyerswantandeffectivelymarketingthosedifferentiatingfeaturesisoftenchallenging.

Conjointanalysisisapowerfultoolandcanbeusedtoquantifyseveralmetrics,includingproduct/featurevalue,trade-offscustomersarewillingtomake,and(insomecases)priceelasticityforaproduct,featureorbrand.Gonearethedaysofguessingwhatcustomerswantoraskingyoursalespeoplewhattheythink yourcustomerswanttobuy.Manufacturerscannowunderstand,earlyintheproductdevelopmentcycle,whatcustomersvalueandwhattheyarewillingtopayforspecificfeatures…withoutinvestingmillionsinapotentialflop.

ThiseBookwillexplorethedifferencesinvariousconjointmethodologies,presentcasestudies,andoffersomebestpracticestohelpyoudeterminewhichconjointisthebestmethodologyforyourproject.

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TABLE OF CONTENTS Conjoint Analysis

1

2

3

4

5

Conjoint Introduction

CBC In-Depth

ACBC In-Depth

MaxDiff In-Depth

Key Success Factors

3

TABLE OF CONTENTS Conjoint Analysis

1

2

3

4

5

Conjoint Introduction

CBC In-Depth

ACBC In-Depth

MaxDiff In-Depth

Key Success Factors

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TABLE OF CONTENTS Conjoint Analysis

1

2

3

4

5

Conjoint Introduction

CBC In-Depth

ACBC In-Depth

MaxDiff In-Depth

Key Success Factors

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Conjoint IntroductionWhat is conjoint analysis?

“Inthebeginning,”conjointwasusedalmostexclusivelyforproductresearch;fewotherapplications/objectiveswereappropriateforconjoint.

Essentially,aproductwasbrokendownintoattributesandcustomerswereaskedtotrade-offbetweenthoseparts.Thisallowedresearcherstounderstandwhichattributesdrovecustomerpreferenceforaselectproduct.

Today,conjointcanbeusedformuchmorethanjustproductresearch.Itisatoolthatresearchersusetounderstandpricingandpriceelasticity.Itisusedforproductdevelopmentbyallowingresearcherstounderstandhowanewproductmaydisruptamarket.Itisusedtoprioritizevariousproductfeatures,brandsorservicestohelpcompaniesbetterunderstandwhat“movestheneedle”andwhichmarketingmessageswillmostresonatewithcustomers.

Product Choice

Brand

ColorSize

AdvertisingPrice

Choice Model

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Conjointhasevolvedsignificantlysinceitsintroductioninthe1970s.

Card Sort Whenconjointwasfirstdeveloped,itwasbasedona“cardsort”platformthatrequiredin-personinterviewswiththerespondentbase.Theresearcherwouldaskrespondentstoliterallysortcards,withvariousproductconfigurations,frombesttoworst.Thecardsortwasthentabulatedandusedtounderstandcustomerpreferencesandwhichattributesimpactedcustomerpreferences.

Adaptive Conjoint Analysis (ACA)Inthe1980s,AdaptiveConjointAnalysis(ACA)wasdevelopedasacomputer-basedprogramthatadaptedtorespondentanswers.Untiltheearly2000s,ACAwasexecutedthroughacumbersomeandcostlyphone-mail-phonemethodology.Respondentswererecruitedviaphone,mailedafloppydiskwiththeACAprogramandthenphonedagain...eithertotalktherespondentthroughtheexerciseortoremindthemtocompleteit.

Choice-Based Conjoint (CBC)Inthe1990s,Choice-BasedConjoint(CBC)wasintroduced.CBCisasimplified,non-adaptivetrade-offanalysis.Thismethodologyeliminatestheratingandrankingofattributesandshowsrespondentsfullprofilesofconfiguredproducts.Respondentsareaskedtochoosetheirpreferredoptionoveraseriesofquestions.Itisbestusedforpricingstudies,forproductsorservicewithlessthanfiveattributes,andtopredictproduct/serviceschoicesandpreferences.

A BRIEF HISTORY LESSON

1970

1980

1990

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Whotookthesurvey?A BRIEF HISTORY LESSONConjointitselfhasevolvedsignificantlysinceitsintroductioninthe1970s.

Menu-Based Conjoint (MBC)Inthe2000s,Menu-BasedConjoint(MBC)wasintroduced.MBCisanadvanceddiscretechoicemodelingsystemthatallowsuserstochoosefrommultiplemenuoptions.Itcanbedesignedtoshowabundledproductorallowrespondentstochoosea-la-carte.

MBCisnotusedveryoftenbutitprovidesgreaterdesignflexibilitybyprovidingtheoptionofhavingabasketofproductsfromwhichrespondentscanmaketheirchoices.

Adaptive Choice-Based Conjoint Analysis (ACBC)ThemostrecentadditiontotheconjointfamilyisAdaptiveChoice-BasedConjoint(ACBC).Thiswasintroducedin2010andwasdesignedtomimicthepurchasedecisionprocessforcomplexproductsandservices.ACBCcombinesmanyofthebestfeaturesofAdaptiveConjointandChoice-BasedConjoint.

ACBCworksinaseriesofstepsdesignedtoidentifyrespondentpreferencesandsimplifythechoicesthroughouttheexercise.ACBCtakesrespondentsthroughthreeexercises:1. BuildYourOwn:Createaproductwithallyourpreferred

attributes2. Screening:Createaconsiderationsetandestablishrules3. Choicetasks:Choosewhichoptionisbestfromthe

considerationset

2000

2010

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Conjoint ApplicationsWhat is conjoint used for?

Product DesignWhendesigninganewproduct,conjointcanbeusedtodeterminewhether(orhowmuch)newproductfeatureswillimpactcustomerpreferenceandhelpcompaniesunderstandhowvariousproductconfigurationsmightimpactthatpreference.Conjointalsocanmeasurethepotentialacceptanceofaholisticnewproductandhowthatproductmightdisruptthemarket.

Price Elasticity Needtobetterunderstandpriceelasticityandtheimpactofpriceoncustomerpreference?Conjointcanhelp.Notonlycanconjointhelpcompaniesdeterminetheimpactapriceincreasemayhaveonpreference,italsocanhelprevealtheimpactindividualproductfeaturescanhaveonbothpreferenceandwillingnesstopay.Whenlaunchinganewproductoranewproductfeature,itcanhelpcompaniesunderstand,“willthisnewfeatureallowustochargeahigherpriceandcaptureabettermargin?”

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Conjoint ApplicationsWhat is conjoint used for?

Brand ValueUnderstandingthevalueofabrandhasalwaysbeenachallengeforcompaniesandresearchers.However,intherecentpast,aversionofconjointthatincludesdynamicpricinghasremovedsomeofthechallenge.AdaptiveChoice-BasedConjointcanbeusedtoisolatebrandinthepurchaseprocessandprovideinsightsintoboththeintrinsicvalueofthebrandanditsimpactoncustomerpreferenceandpriceelasticity.

Attribute Value Finally,conjointisagreattoolformeasuringtheimportanceof– andcustomerpreferencefor– variousproductfeaturesandattributes.Conjointprovidesabetterunderstandingofattributeimportancebydeterminingboththe“value”ofeachattributeandthevalueofeachlevelwithinanattribute.Returningtothebrandexample,wemaylearnthat“brand”asanattributeisnotveryimportant,butBrandX,alevelwiththebrandattribute,isvastlypreferredoverBrandYorBrandZ.

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Understanding Different MethodsA high-level overview of each conjoint variety

Adaptive Conjoint Analysis (ACA) Advantages• Minimizes“informationoverload”• Upto30attributes• AdaptiveusingAI• Generatesrealistictrade-offs

Disadvantages• Mustbeadministeredonline/viacomputer

• Processismoreabstractandchallengingforrespondents

• Notidealforpricesensitivity

Itismostfrequentlyisusedformodelinghighlyinvolvedpurchasesandfornewproductdevelopmentresearch.ACAconsistsofathree-stepprocessinwhichrespondents:• Ranktheattributesbypreference• Assignimportancetotheattributes• Determinepreferencebyevaluatingwhichoftwopresentedoptionsismostpreferred

Choice-Based Conjoint (CBC) Advantages• Lessabstract– similartoreal-life

decisions• Canbeadministeredviamultiple

mediums(online,phone,in-person)

Disadvantages• Staticquestions– doesnotadapt

torespondentchoices• Notappropriateforcomplex

products/services

Choice-BasedConjointismuchlessabstractthanAdaptiveConjointbecauseitpresentsmorelikereal-lifeproductdecisionsthatcustomersmaybemaking.Itcanbecompletedinpersonorevenviaphone,dependingonthenumberofattributesandlevels.TherearemultiplevarietiesofCBC,including:• “ChooseOne”approach– “Whichofthese

computerswouldyoubuyiftheyaretheonlyoptionsavailable?”

• ChipAllocation– “Inyournexttenpurchases,howmanyofeachproductwouldyoupurchase?”

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Understanding Different MethodsA high-level overview of each conjoint variety

Menu-Based Conjoint (MBC)Advantages• Allowsgreatercustomizationofproducts/attributes

• Providesmorerealisticproductconfigurations• Enablesmorepreciseunderstandingofpricesensitivity

Disadvantages• Morecomplicatedtoprogramandexecutethanotherconjointmethodologies

• Notappropriateforsimpleproductsorservices

MBCisadvanceddiscretechoicemodelingthatallowsrespondentstoselectmultipleoptionsfromamenu.Itisnotusedveryoftencomparedtoothermethodologies,butitdoesallowresearcherstogiverespondentsabasketofproductstochoosefromratherthansingularproducts.

Adaptive Choice-Based Conjoint (ACBC)Advantages• Morerealisticandengagingforrespondents• Capturesmoreinformationforeachindividualattribute/level,allowingformorecustomized/accurateanalysis

Disadvantages• Takeslongertoadminister• Notidealforsimpleproducts/serviceswithfewattributes

• Mustbeadministeredonline/viacomputer

WhendoinganAdaptiveChoice-BasedConjointplanforalongertimelinethannormal,ACBCrequiresmoreup-fronttimeforsurveydesign,particularlyifyouareusingdynamicpricing.However,thedataprovided,bothonanoverallandperattributebasis,ismorein-depththaneitherACAorCBC.Thisallowsforgreatercustomizationandmoreaccurateanalyses.

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TABLE OF CONTENTS Conjoint Analysis

1

2

3

4

5

Conjoint Introduction

CBC In-Depth

ACBC In-Depth

MaxDiff In-Depth

Key Success Factors

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Choice-Based Conjoint An In-Depth Understanding

What is CBC? Choice-BasedConjoint(CBC)isthemostpopularconjointmoduleandoffersamoresimplisticwaytogaugerespondentinterestinproductattributes,brands,andmore.• Simulatesreal-lifeproductdecisions

Respondentsareshownscreenswithsetproductconfigurations(doesnotadaptbasedonresponses)

This methodology:• Islessabstractthanadaptiveconjointandsimulatesreal-worldbuying

decisions• Canbeconductedonline,in-personorviaphone

• Successofin-person/phonewilldependonthenumberofattributes• OftentakeslesstimethaneitherACAorACBC

• Allowsformorerobustancillaryquestioning

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Choice-Based Conjoint Case Study

Recently,Martecconductedconsumerresearchtohelpdetermineifconsumerswouldbewillingtopaymoreforanultra-thinTV.Thisresearchincludedqualitativeinterviewsand200onlineconsumersurveys,includingCBC.

Business Challenge AglobalconsumerproductsmanufacturerrequiredconsumerinsightsregardingTVthicknessandbezelwidth.Further,itwantedtodetermineifconsumerswillpaymoreforanultrathinTVtodetermineago/no-godecisionregardingfutureproductdevelopment.

Research Methodology200onlineconsumerinterviewswithchoice-basedconjoint

The Outcome• ThroughtheCBC,wedeterminedthatTVthickness,framewidthandbezelwidthallhaveasignificantimpactonconsumerpreference

• ConsumerspreferredathinnerTVwithathinnerbezeluntilitspricepremiumwas33%orhigherthanathickerTV

• PairingthethinTVwiththemostpreferredbrandyieldedevenhigherpricepremiums

• Basedontheresearch,thedecisionwasmadetomoveforwardwithdevelopmentoftheultrathinTV

MartecdeterminedthatTVthickness,framewidthandbezelwidthallhaveasignificantimpactonconsumerpreference.Infact,consumerspreferredthethinneroptionuptoa33%premiumoveraconventionalthickTV.Further,pairingthatthinnerTVwiththe“mostpreferred”brandyieldedevenhigherpricepremiums.

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TABLE OF CONTENTS Conjoint Analysis

1

2

3

4

5

Conjoint Introduction

CBC In-Depth

ACBC In-Depth

MaxDiff In-Depth

Key Success Factors

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Adaptive Choice-Based Conjoint An In-Depth Understanding

What is ACBC? • ACBCisdesignedtoaddresscomplexproductsandservices• LeveragesthebestaspectsofbothDiscreteChoiceModelingandAdaptive

Conjoint.• Highlyinteractiveandadaptivetothepreferencesandopinionsofeach

individualrespondent.

ACBC interviews progress as follows:

1. Build your ownTheACBCapproachbeginswitha“build-your-own”exercise,whichallowsrespondentstoconfigureproductsandservicestotheirspecificneeds/wantswhileconsideringthepricepremiumordiscountassociatedwiththepre-definedattributesandlevels.

2. ScreeningUpondesigningtheir“ideal”productorservice,respondentsareaskedtoevaluateseveralproductconfigurationswithsimilarfeaturestodetermine“musthave”and“neverhave”features.

3. Choice TasksWiththeconsiderationsetfinalized,respondentscompleteachoice-basedexercise,verysimilartoatraditionalCBC,inwhichtheyareaskedtoidentifythe“bestoption.”

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Adaptive Choice-Based Conjoint How can ACBC help you?

Adaptive Choice-Based Conjoint has several inherent advantages over other conjoint methodologies:• Itkeepsrespondentsmoreengagedandconnectedtotheresearchprocess

• Itallowsforabetterunderstandingofthespecificvalueofindividualfeatures• Versustraditionaltradeoffresearch,whichtypicallyfocusedontheoverallvalueoftheentireproduct

• Itcanincludeagreaternumberofattributes• ItworkswellamongthesmallpopulationsandsamplesizescommontoB2Bresearch

• Itprovidesinsightintobothsolidbehavioraltheory(considerationfirst,thenchoice)andstatisticaltheory(experimentandchoicedata)

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Adaptive Choice-Based Conjoint Case Study

Aspartofamulti-phaseproject,ACBCresearchwasconductedforaglobalfoodserviceequipmentmanufacturerthatwaslookingforinsightsonbothitsnextgenerationproductsandthevalueofitsbrand.MartecconductedanACBCexercisewith12attributes&42levels.

Business Challenge Aglobalfoodserviceequipmentmanufacturerrequiredinsightsregardingbothitsnextgenerationproductanditsbrandvalue.AnACBCexercisewith12attributesandatotalof42levelswasusedtoprioritizerespondentpreferencesanddeterminefutureproductdevelopmentsequencing.

Research Methodology• 500onlineinterviewswithfoodserviceprofessionals(bothcommercialandinstitutional)

• Surveyincludedbothadaptivechoice-basedconjointandscaledresponsequestions

The Outcome• TheACBCshowedthatwhilefoodserviceprofessionalspreferred“thebestfeatures”inthebuild-your-ownexercise,preferencedeclinedsignificantlywhentheanticipatedpricepremiumwasassociatedwiththosefeatures

• FeatureswiththegreatestROI(specifictoenergyconsumption)requiredfurtheruser/purchasereducationtoallowthemanufacturertocapturethefullvalueofthesefeatures

• Themanufacturer’sbrandgeneratedasignificantpremiumandpreference,especiallywhenassociatedwithpremiumfeatures

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TABLE OF CONTENTS Conjoint Analysis

1

2

3

4

5

Conjoint Introduction

CBC In-Depth

ACBC In-Depth

MaxDiff In-Depth

Key Success Factors

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MaxDiffAn In-Depth Understanding

What is MaxDiff? AlthoughMaxDiff (AKA“best-worstscaling”)isnotatrueconjointexercise,itisaneasy-to-useapproachtoobtainimportanceandpreferenceforalistofattributes,features,brands,andmore.

How does it work? Respondentsareaskedthesamequestionsforalistofattributes,features,andbrands:• Whichofthefollowingismostimportant(yourfirstchoice,preferred)?• Whichofthefollowingisleastimportant?

What is it best used for? • Messagetesting• Prioritizingalonglistofattributes/features• Brandpreference

This technique eliminates many of the challenges inherent in scaled response questions.• “Everythingisimportant”• “I’mnotsatisfiedwithanything”• “Ilikeallofthemessages”

Advantages• Eliminatesstraight-lineresponses(i.e.“everythingisimportant”)

• Providesalternativeroutetoprioritizealonglistofattributes

Disadvantages• Maytakelongertoadministerthanscaledresponsequestions(prioritizingalistof20attributeswillrequire15screensiffourattributesareshownperscreen)

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MaxDiffNeeds Assessment Matrix

AkeydeliverableofaMaxDiff isaNeedsAssessmentMatrix.PairingtwoMaxDiff exercises(withthesameattributes),specifictoimportanceandsatisfaction,identifiesunmetneeds(highimportance,lowsatisfaction).

Thefollowingquestionsareaskedofrespondents(questionsareaskedanumberoftimeswithdifferentbenefits):• Attributeimportance

• Whichofthefollowingismostimportant?• Whichofthefollowingisleastimportant?

• Currentsatisfactionwithattributes• Whichofthefollowingattributesismost“wellmet”?• Whichofthefollowingattributesisleast“wellmet”?

ThisNeedsAssessmentMatrixcomparestherelativeimportanceoftheattributestotherelativesatisfactionoftheeattributes

Unmet Needs Table Stakes

Appropriate Emphasis Overemphasized

Satisfaction ScaleLow ---- High

Rel

ativ

e Im

port

ance

Low

---H

igh

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Inthisexample,sixunmetneedswereidentified.Theseattributeshadhigherthanaverageimportanceandlowerthanaveragesatisfaction.

Forthisproductdevelopmentresearch,theseunmetneedswereusedtoidentifypotentialproductenhancementsthatwoulddifferentiatethemanufacturerandaddvaluetoitsproduct.

MaxDiffNeeds Assessment Matrix

Rela

tive

Impo

rtan

ceLo

w --

--Hig

h

Relative SatisfactionLow----High

Appropriate Emphasis Overemphasized

Unmet Needs Table Stakes

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MaxDiffHow can MaxDiff help you?

This methodology: • Reducesinherentbiasesamongrespondents

• Increasesdiscriminationbetweenattributes,features,brands,etc...

• Eliminatesscalingbiases• Issimpletoexecute• Iseasierforrespondents• Canincludealargenumberofattributes

MaxDiff also is useful as a powerful segmentation tool, as it helps to identify key benefits/features that differentiate unique segments

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MaxDiffCase Study

Inthisproject,MaxDiff wasusedtoidentifywhichproposedservices/benefitswouldhavethegreatestimpactoncustomerneeds.

Business Challenge Aglobalservicecompanyrequiredprioritizationofseveralpotentialnewserviceofferings,specificallydesignedforthehospitalsegment.AMaxDiffexercisewith13benefitstatementswasusedtoprioritizerespondentneedsanddeterminefutureserviceproductdevelopmentsequencing.

Research Methodology• 300onlineinterviewswithdecisionmakersatacutecarehospital• SurveyincludedbothtwoMaxDiff exercisestoidentifyunmetneeds(highimportance,lowsatisfaction)

The Outcome• Prioritizedeightpotentialserviceofferingsintothreetimeframes

• Immediateopportunities• Short-termopportunities• Furtherexplorationrequired

• Determinedthatwithouttheaddressingtheimmediateopportunities,theshort-termopportunitieshadalowerlikelihoodofsuccessduetoperceivedvaluepropositionissues

• Completedadditionalresearchtodeterminekeysuccessfactorsforaddressingimmediateneeds

Martecdeterminedthatwithoutaddressingtheimmediateopportunities/issues(focusedonbasicoperationalconcerns),anyfurtherdevelopmentwouldbemetwithskepticismandwouldhaveahigherlikelihoodoffailure.Consequently,subsequentphasesoftheresearchwerefocusedonkeysuccessfactorsforaddressingandcorrectingtheimmediateneeds.

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TABLE OF CONTENTS Conjoint Analysis

1

2

3

4

5

Conjoint Introduction

CBC In-Depth

ACBC In-Depth

MaxDiff In-Depth

Key Success Factors

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Deciding Between MethodologiesWhich conjoint should you choose?

Withsomanychoices,whichconjointshouldyouuse?Unfortunately,thereisnosimpleanswertothatquestion.Conjointselectiondependsonmultiplefactors,including:• Targetrespondent• Respondentuniverse• Subjectmatter• Product/servicecomplexity• Numberofattributes• Preferredmethodology(phone,online,in-person)

Ask yourself…• Whatismyrespondentbaseandhowmanyofthemexist?

• Whatisthesubjectmatter(brand,existingproduct,newproduct,pricing,KPC)?

• Howcomplexistheproduct/service?

• Howmanyattributeswillbeincluded?

• Whatmethodologydoesmyrespondentbaseprefer?online,phone,in-person

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Deciding Between MethodologiesWhich conjoint should you choose?

Stillnotsurewhichconjointtochoose,askyourselfeachofthequestionsonthepreviouspageandmapyouranswerstothegridbelow.Thisshouldeliminateatleastthreeofthepotentialsolutions.

Itisimportanttorememberthatnotallsituationsrequireaconjointexercise.Yourresearchpartnercanhelpyoudetermineifconjointisappropriateforyourobjectiveandwhichconjointisbestforaproductorservice.

ACA CBC MBC ACBC MaxDiff

Product Research

Pricing Research

Brand Value

Simple Product/Service(few attributes/levels)

Complex Product/Service(many attributes/levels)

Bundled product/service

Online

Phone/In-Person

Prioritization

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Key Success Factors Last tips for your conjoint analysis

DO…• Knowyourresearchobjectivesandwhatyouwanttheconjointto

accomplish• Havespecificandmeasurableattributes

• Brand• Price• Leadtime• Cycletime• Size

• Allowadequatetimeforattributedefinition/surveydevelopment• Pre-surveyqualitativeinterviewstofullydefinetheattributesandlevels• Expectmultipleiterationsofanalysis

DON’T…• Leaveattributesopenforinterpretationorhaverelativevalues

• Quality(low,medium,high)• Alwaysexplorewhatqualitymeanstorespondentsandapplymeasurable

attributestomeasurequalityneeds

• Trytoincludetoomanyotherquestionsbefore/aftertheconjoint• Conjointcantakeseveralminutestocomplete...oftenresultinginrespondent

fatigueduringotherquestions

• Assumetoomuch• Conjointprovidesshareofpreference,notmarketshare

• Applyconjointforallapplications• Evenwhenyouthinkyouhavea“conjointquestion”(i.e.priceelasticity)there

maybeabettersolution

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SO WHAT?

Conjointisapowerfulandversatiletoolthatcanbeusedformyriadresearchneeds– fromdeterminingtheproductdesign/configurationtomaximizesharetounderstandingthevalueofyourbrandanditsimpactonyourpricingmodel.

However,determiningthebestconjointmethodologyforagivenobjectivemayrequirein-depthdiscussionsbetweentheprojectteamandtheresearchprovider.TheMartecGrouphasateamofexpertsreadytoansweryourquestionsandsteeryoutothebestmethodologyforyourneeds.

Wanttolearnmore?Contactus!

KenDonavenDirectoratTheMartecGroupE.ken.donaven@martecgroup.comP.248.327.8021C. 248-770-3640www.martecgroup.com