conjointAnalysen

ConjointAnalysen, also known as Conjoint Analysis, is a statistical technique used in marketing research to determine how people value different attributes (features, functions, benefits) that make up an individual product or service. The underlying principle is that consumers make decisions by evaluating products based on their overall utility, which is a sum of the utilities they assign to each of its attributes. By presenting consumers with a series of hypothetical product profiles or choices, researchers can infer the relative importance of each attribute and the preference for specific levels within those attributes. This allows companies to understand which product features are most valued by their target market and how changes in attribute levels might impact consumer choice and market share. The technique is widely used for product design, pricing strategy, market segmentation, and forecasting. Data is typically collected through surveys where respondents are asked to choose their preferred option from a set of carefully constructed product descriptions. The results can then be used to build predictive models of consumer choice.