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Conjoint Analysis

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Definition

A statistical technique much like experimental design, that measures the joint effects of multiple product-attribute combinations on consumer preferences with the aim of predicting profitability and market share for new or existing products and services. The data for analysis are collected in a survey-like setting.

Conjoint analysis, or Trade-off analysis as it is also known, has an advantage over conventional methods of market research because it forces the respondent to make complex choices from several different conjugations of the attributes being offered, thus revealing their true preferences.

External Links

Conjoint Analysis from QuickMBA - http://www.quickmba.com/marketing/research/conjoint/ Article from isixsigma - http://www.isixsigma.com/library/content/c051031a.asp Conjoint Analysis Overview - MoreSteam.com November 2008 MoreNews Newsletter - http://www.moresteam.com/morenews/story.cfm?user_id=1&article_id=28&newsletter_id=6#break