Conjoint Analysis

CONJOINT ANALYSIS - ADVANCED CUSTOM PHYSICIAN SURVEYS

Is it possible to gain a real-life picture of what product features your end-users really care about, and be able to predict if your product will be a hit? Absolutely.

With our help, you can use the conjoint analysis statistical method to attain the most in-depth, comprehensive research available. It differs significantly from traditional surveying techniques by iteratively recreating real-life purchase situations.

Understand Relative

Product Feature Importance

Before You Go to Market

Determine relative importance of predetermined product features.

Determine market acceptance of multiple product feature combinations and emerging technologies.

Determine optimal mix of product features such as price, type, size, model, etc.

Determine different features through a conjoint survey and multivariate analysis.

THE 4 STEP PROCESS TO CONJOINT ANALYSIS

Step 1:

By first deciding on the product attributes that want to be tested (for example: colour, price, size, material or another), we can then assign the variables under each category that are the potential options. This will provide us with a matrix that we can use to create scenarios.

Step 2:

This step is completed by the survey respondent. A series of hypothetical products with randomized combinations of specifications will be presented to the respondent, and they can then decide which product (based on the product feature composition) is more desirable. For example: A car that might be a Hatchback, Gasoline, Red, and 4 door, $35k might be presented beside a Sedan, Diesel, Black, 4 Door, $45k – and the respondent would choose their preference.

Step 3:

While an answer to 1 question isn’t very insightful, repetition with variety is key. Within this step, the survey program scrambles the various attributes to create a multitude of combinations and questions. The respondent repeatedly chooses the product that has the specifications that they find most important from the group. This step uncovers patterns in choices that standard surveys may miss.

Step 4:

After surveys are collected, our analysis team will use analytical systems to help you rank specific products and features. You will then be able to compare your research and designs, with accurate user preferences.

For those that need a less complex option we also provide normal physician surveys with multiple choice, ranking, and short answer questions.

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WHAT YOU'LL GET

Matrix Simulator –

The data achieved from the study that allows you to determine probability of brand selection with alternating attribute types.

Analysis Report

A deep analysis of the data from our team of analysts to get insights, trends and actionable intelligence from the findings.

Want to Learn More About Conjoint Analysis?

The results of these types of survey and analysis are immensely useful in product development and marketing. To get a better idea of how this service can fit your needs please contact us and we’ll help customize a solution that gets you the insights you need.

Thank you!

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