Definitions for "Conjoint Analysis"
Conjoint analysis is a tool that allows a subset of the possible combinations of product features to be used to determine the relative importance of each feature in the purchasing decision. Conjoint analysis is based on the fact that the relative values of attributes considered jointly can better be measured than when considered in isolation.
multivariate statistical technique which analyses preferences for various combinations of attributes: e.g. "Would you rather have a can of cold fizzy soft drink, a glass of claret, or a cup of coffee with cream?' Conjoint analysis (derived from co nsidering joint ly) would separate out preferences for hot vs cold drinks, alcoholic vs non-alcoholic, colour, and container. Related to choice modelling. The information can come from either databases (see revealed preferences) or questionnaires (see stated preferences).
A quantitative market research technique for examining the trade-offs of a products attributes in order to determine a comparison of how potential customers value each attribute.
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