Conjoint Analysis or Trade-Off Analysis

Conjoint Analysis, or Trade-Off Analysis, is a market research technique used to understand customer preferences. It evaluates how people value different features of a product or service by presenting them with various combinations. For instance, if you’re considering a smartphone, factors like price, battery life, and camera quality are assessed together. By analyzing choices, marketers can identify which features are most important to consumers and how they influence purchasing decisions. This helps companies design products and marketing strategies that align with customer desires, ultimately enhancing effectiveness in advertising and product development.