Is your product and pricing relevant to the target market?
What is a conjoint study?
A conjoint is a multivariate study used to measure consumer preference of multi-feature product or service alternatives. The study is designed to show how various elements of a product can be selected to predict customer preferences for those elements. Using a conjoint study you can ascertain a consumers willingness to purchase products at certain price points and which attributes are most desirable.
A conjoint study enables you to:
- Determine what features a new product should have and how it should be priced.
- Incorporate images quickly and easily.
- Focus product development on client needs.
- Explore a customers response to alternative pricing strategies, specific price levels, and proposed price changes.
Conjoint measurement uses rating data to evaluate pairs of attributes or profiles and provides marketers with a measurement of respondents’ likelihood to purchase based on a specific set of variables. Respondents are presented with realistic product attributes, and can even view rough product concepts online.
Our team of conjoint programming experts focuses on understanding your survey data requirements and can deliver a clean data file for your analytical team or for Sawtooth–a market simulator.
We can program your survey using Confirmit online interviewing software or via Sawtooth Software. Toluna has licensed the ACA and CBC versions of Sawtooth Technologies online conjoint software. In either approach, we can integrate graphics or video into the interview.
Our infrastructure and survey applications enable us to process more than 10,000 completed surveys each minute. And our team of skilled programmers and sample managers can efficiently handle your project requests—many times within hours of initiation. We can also easily brand surveys to mirror your corporate standards.
