GETTING STARTED WITH CONJOINT ANALYSIS

Ask people what they want, and they say, "the best of everything." Ask them what they would like to spend, and they say, "as little as possible." Assessing consumer preferences and willingness to pay through direct rating scales, with separate questions about product features and prices, often fails to capture trade-offs that underlie consumer choice. Conjoint analysis goes beyond simple surveys, providing a more realistic approach to understanding consumer attitudes, opinions and behavior.