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Marketing Research is of immense value for executives in deciding how much to price their products. One of the methods that researchers most commonly adopt is the Conjoint (Trade-off) Analysis. The method helps in identifying product features that consumers prefer, discerning the impact of price changes on demand, and estimating the probability of product acceptance in the market.

In contrast to directly inquiring from the respondents about the most important feature in a product, Conjoint Analysis makes the survey participants assess potential product profiles. These product profiles comprise various linked--or conjoined--product features, therefore the analysis is termed "Conjoint Analysis." The Conjoint Analysis can be applied in different units across an enterprise—e.g., product development, product positioning, or product line analysis.

This presentation provides a detailed overview of the Conjoint Analysis, the key phases of the analysis, and the 7 types of Conjoint Analysis:

1. Two-Attribute Tradeoff Analysis
2. Full-Profile Conjoint Analysis
3. Adaptive Conjoint Analysis
4. Choice-Based Conjoint Analysis
5. Self-Explicated Conjoint Analysis
6. Max-Diff Conjoint Analysis
7. Hierarchical Bayes Analysis (HB)

The slide deck also includes some slide templates for you to use in your own business presentations.

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Source: Conjoint Analysis Primer PowerPoint document

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Tag(s): Market Analysis Pricing Strategy

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