conjointanalys
Conjointanalys is a family of quantitative market-research methods used to quantify how people value different attributes that make up a product or service. By presenting respondents with products or services that vary across attributes and levels, researchers infer the relative importance of each attribute and the utility of its levels. The aim is to predict preferences, optimize feature sets, and simulate market choices.
Origin and variants: The approach emerged in the 1970s and has since evolved into several variants, including
Methodology: A researcher defines attributes (e.g., price, size, brand) and levels (e.g., $10, $15). An experimental
Design considerations: Full factorial designs test every combination; usually, fractional factorial orthogonal designs reduce task count.
Applications and limitations: Used for product configuration, pricing, feature prioritization, portfolio optimization, and segmentation. Limitations include