CONJOINT EXPERIMENT
The Conjoint Experiment allows us to answer the question of what features and price a product/service should have to perform optimally in the market. It allows us to prepare “what if” scenarios. With the help of a simulator (which we build using the collected survey data), we can identify the changes that occur in purchasing decisions if certain product/service characteristics change.
WHEN IS CONJOINT USED?
We use it for:
Pricing of products and services.
Designing new products/services or modifying existing ones.
Assessing the impact of competitors’ market activities (e.g. price reductions or new product launches) on preference for our brand.
HOW DOES IT HELP?
It helps determine which features and price point a product/service should have to maximise its success in the market.
It enables us to develop “what-if” scenarios and assess how purchasing decisions change when specific product attributes are modified.
