“Do you do conjoint analysis? I’ve heard that it can be helpful in determining product features. Can you tell me more?”
Often the first time conjoint comes up is in a client conversation. If you’re not skilled in conjoint analysis, how can you best counsel your client?
Conjoint analysis can be powerful when done well, but it is complex to explain and to execute. Simply knowing the benefits and limitations of conjoint will help you get started with that client conversation.
To continue that client conversation, you will need to also consider:
- Whether the client’s product or service in question lends itself well to conjoint analysis or whether another data analysis option may be preferable.
- What tools you have available for conducting conjoint analysis.
- How many product or service attributes are at play.
- How taxing the survey instrument might be for the respondent.
In our 90-minute Introduction to Conjoint Analysis class, students learn the basics of conjoint analysis such as common applications of conjoint (including product optimization, market segmentation and pricing analysis), tools to use for conjoint, and how to plan a conjoint project. A walk-through of a sample project is also included in this class. What this class does not include is programming; it is intended for the project manager working with an analyst or statistician for the hands-on programming.
Upon completion of this class, you will be able to discuss conjoint analysis with confidence!
We look forward to seeing you December 7th at Introduction to Conjoint Analysis. Register now to reserve your seat in this live instructor-led class in our virtual classroom.