This video is a fun introduction to the classic market research technique, conjoint analysis. Help Jane figure out how to build and market a better "bazoogle" to beat her competitor Bob. This white-boarding video explains how conjoint analysis tools (especially choice-based conjoint, CBC) are used to design and price near-optimal products and services.
Conjoint analysis is one of the most widely-used quantitative methods in Marketing Research. It is used to measure preferences for product features, to learn how changes to price affect demand for products or services, and to forecast the likely acceptance of a product if brought to market.
- Designing new products
- Product line extensions
- Estimating brand equity
- Measuring price sensitivity (elasticity)
- Branding and packaging
Understand and predict consumer choices. Design, modify, and price products to improve market share and profitability. CBC is the gold-standard technique.
Adaptive CBC can be a better approach than standard CBC for studies involving about 5 or more attributes, especially when the product or service involves a high-involvement purchase process. The survey tends to be longer than with CBC, but respondents find it more engaging and the results usually have higher precision.
Menu-Based Choice (MBC) is advanced discrete choice modeling software for multi-check menu studies, including those involving bundling vs. a la carte choices. Includes logit and HB modules, plus simulations (including Excel simulation option).
With 30 years in business and thousands of users worldwide, Sawtooth Software is the consensus leading provider of conjoint analysis software. Companies like Procter & Gamble, Google, General Motors, General Electric, and Microsoft use our software and have presented case studies and success stories at our popular research conferences.