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October 2013

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Which variety of conjoint should I use?

Written by , Posted in Optimizing Insight, Research Methods

Conjoint analysis, one of the most effective tools for understanding buyer decision making, was first introduced in the early 1980’s in the form of a card sorting task. The typical task consisted of 18 or more physical cards, each bearing a product description that was constructed by combining features according to experimental design principles, and respondents sorted the cards in rank order from most preferred to least preferred. Monotonic analysis of variance (“MONANOVA”) was used to estimate “part-worths” for each of the features that made up the product concepts. Once the researcher had these part-worths in hand it was possible to simulate the choices consumers would make under different competitive market scenarios. (more…)