Choice-Based Conjoints Outcomes
Realistic Decision Making
Founded on the principle that buyers are making decisions based on multiple attributes at the same t ime.
Determines the optimal price for the product . Can simulate scenar ios such as share impact when a compet tor drop price.
New Product Development
Identifies the best combination of features that will maximize share.
Measures which features are most important to elevate, reduce, or remove to increase share or sales.
Market Share Estimations
Simulates various market share outcomes based on product and price changes.
Measures cannibalization of products to sales and share. A helpful tool for product portfolios
Attributes & Levels
Typical number of attributes & levels:
- Attributes: 4 to 8
- Levelswithin each attribute: 4 to 8
Can I have more attributes & levels than the typical?
- Yes. It just requires a more complex design and sample plan
Calculation of sample size depends on the number of…
Levels within those attributes
Tasks per respondent
Constraints are combinations of attribute levels that are not realistic trade-offs and therefore we do not want respondents to provide feedback. The more constraints, the more complex the design.
- Extend the useful life of the research by incorporating possible future scenarios into defining levels.
- Remember to consider what business what you are trying to optimize (sales, market share, product interest), this will impact the design.
- Make sure you know how to use your simulator properly once it is delivered to you, incorrect interpretations are just as bad as a properly designed study.