Conjoint Analysis

One of the increasingly popular techniques being used in new product development is an analytical technique called conjoint analysis (CA). The early academic work on CA was done by Paul Green in the 1960s and since then it has widely been used in various contexts and applications. In essence, conjoint analysis is a marketing technique for predicting how developed or redesigned products or services would perform when taken to the market. By selecting the right features (attributes) of a product or service and setting the right price for a given product, companies can “win over” consumers and maximize sales. In practice, if one asks consumers what features they want in a product they would probably indicate that they wish for everything, but this is often ...

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