Conjoint Analysis

Measuring Buyer Preferences

Find the best combination.

© iStockphoto/DOConnell

What's the best way to introduce a new product, or change an existing one?

You could just move forward boldly with a new idea and keep your fingers crossed that it works.

Or you could reduce risk by doing market research – before you go through all the trouble of creating something customers don't want or don't like.

Getting a product 'right' involves a lot of variables.

The most obvious feature is functionality – how it works. However, other things also play a role in the final purchase decision – such as packaging, promotion, materials, and even where a product is manufactured.

For example, people buy cars to get from point A to point B. The type of car they buy is based on many things, including fuel consumption, styling, reliability, and color. While any of these product attributes may be the primary selling feature, people make decisions by considering all the attributes together.

Getting all of these features in the right combination is pretty difficult if you just rely on guesswork. So, how can you evaluate your goods and services by considering their attributes all together, or jointly? 'Conjoint Analysis' accomplishes exactly that.

What is Conjoint Analysis?

First and foremost, conjoint analysis is a tool that measures

... for the complete article:

Mind Tools Club members, click here.

Join the Mind Tools Club to finish this article AND get 1,000 more resources

Join now for just $1, first month

"When I started using Mind Tools, I was not in a supervisory position. Now I am. Along with that came a 12% increase in salary." – Pat Degan, Houston, USA
Add this article to My Learning Plan

Where to go from here:

Join the Mind Tools Club

Click to join Mind Tools
Printer-friendly version
Return to the top of the page

Create a Login to Save Your Learning Plan

This ensures that you don’t lose your plan.


Connect with…

Or create a Mind Tools login. Existing user? Log in here.
Log in with your existing Mind Tools details
Lost Username or Password
You are now logged in…

Lost username or password?

Please enter your username or email address and we'll send you a reminder.

Thank You!

Your log in details have been sent to the email account you registered with. Please check your email to reset your login details.

Create a Mind Tools Login
Your plan has been created.

While you're here, subscribe to our FREE newsletter?

Learn a new career skill every week, and get our Personal Development Plan workbook (worth $19.99) when you subscribe.


Thank You!

Please check your Inbox, and click on the link in the email from us. We can then send you the newsletter.