Conjoint Analysis

Conjoint analysis is a research method used to understand how people value different features of a product or service. By presenting individuals with various hypothetical options that combine different attributes (like price, quality, or design), it measures their preferences based on the choices they make. This helps businesses determine which features are most important to customers and how they influence purchasing decisions. Essentially, conjoint analysis breaks down complex products into their components to identify what drives consumer preferences, aiding in designing offerings that better meet customer needs and maximizing product appeal.