Conjoint analysis is used as a method to evaluate a product and to quantify its individual characteristics' part worth. By analyzing customers' preferences and wishes products can be catered to meet their current needs as much as complying with market requirements at the same time. A major advantage of this method is its real life approach asking the consumer/costumer to evaluate the product or service in its various aspects but also as a whole. Therefor research results are consistent with real life buying decision, since they mimic the process of deliberating on pros and cons as well as the consideration of alternative products making it very similar with real life purchase decision making. Due to its realistic results conjoint analysis has evolved into a crucial tool in online market research over the past years.
By applying conjoint analysis Woldeab Technology Consulting will help you to clarify the following issues:
We will support you throughout all the stages of the conjoint analysis: