We often use conjoint research techniques to solve common marketing questions such as:
- What is the “optimal” product configuration mix for next quarter’s product line?
- What is the value of my brand – what is my “brand equity” worth?
- What messaging elements should we use to best position our new product?
- What is the most important attribute for our products? Least important? Where should we focus our R&D efforts and our marketing communication efforts?
Conjoint offers a very useful “real-world” approach to answering these questions. In its simplest sense, conjoint asks research respondents to make realistic tradeoff decisions –
- Would you rather have a notebook PC with a 15” screen that weighs 7 pounds, or one with a 14” screen that weight 5.5 pounds?
- Would you rather have a medication that is likely to cause nausea but acts on the primary condition within 30 minutes, or one that isn’t likely to cause nausea but takes 4 hours to work?
- Which is more appealing – a server that you can have up and running in less than 2 hours and costs $3,000, or a server that takes 8 hours to set up and costs $2,500?
- Would you prefer a cellular phone with 1,000 voice minutes per month, no email access, and a $40 monthly fee, or a phone that offers 500 voice minutes, unlimited email, and a $60 monthly fee?
Conjoint exercises force people to make these kinds of tradeoff choices, just like in the real world. By using well-established conjoint techniques, we can ascertain the importance of different attributes and the relative appeal of different levels of those attributes, and can construct meaningful simulations of real-world choice behavior to help our clients understand the marketplace dynamics that drive product and service purchase decisions.
By understanding the importance and relative appeal of different product/service characteristics, we are able to help our clients focus their energy on the characteristics that drive preferences. We are also able to guide them in understanding differences in preference by market segment so they can build this into their product development and marketing communication plans.
