Conjoint Analysis is a model and technique used to assess the different weights individuals place on the variables presented to them in a given purchase situation. For example, if a consumer decides to buy a house there are a couple of distinct variables involved:
- Purchase Price
- Size (Sq. Feet)
- Quality of Bathrooms/Kitchens
- Proximity to Schools
A conjoint study usually involves showing respondents product profiles and asking them to indicate (in a variety of ways) how much they like or prefer these alternative product profiles. Statistics are then used to work out the contribution that each product attribute is making to the overall likeability.
