Conjoint analysis is the key to unlocking the value customers place on different feature of a given product, service, or experience. Join us as we explore five different types of conjoint analysis and discuss how you can use them to let your customers do the talking.
11. Choice-based Conjoint Analysis
• Most commonly used
• Respondents select
from grouped options
OR
A double scoop of
vanilla ice cream with
no toppings
A single scoop of
chocolate ice cream
with chocolate chunks
Which ice cream option is more appealing to you?
12. Choice-based Conjoint Analysis
• Simplest and easiest
• Accurately simulates the
market
• An excessive number of
features or levels (in
combination) necessitates
long surveys, which leads to
survey fatigue
Pros
Cons
14. • Situation: The team had to raise ticket prices
• Goal: Understand what fans most valued, allowing the NFL
team to present ticket packages that delivered the right value at
the right price
NFL Team Ticket Packages Pricing
Features
Levels*
Seat location
End zone, sideline, upper bowl, lower bowl
Price
$100, $200, $300, $400
Parking Voucher
VIP lot, Lot A, Lot B, Shuttle lot
Concession Voucher
Full meal, hot dog and drink, 3 beers
*These are not the actual levels used in this conjoint analysis project.
16. Adaptive Choice Conjoint Analysis
• Can handle large feature sets
• Packages adapt based on
previous selections
• It gets ‘smarter’ as the survey
progresses
21. • Effectively handles many
features and levels
• Maximizes respondents’ time
by asking fewer questions to
get to equally valid data
• More complicated to set up,
and thus more costly
• Requires more advanced
statistical methods to
determine preference models
Pros
Cons
Adaptive Choice Conjoint Analysis
23. Menu-based Conjoint Analysis
• Respondents are shown a list of
features and levels
• Respondents choose among
options to create their ideal
product, rather than selecting from
pre-established groupings
Please select from the following items to configure your
optimal dining experience:
Restaurant type:
Café
Casual dining
Buffet
Pub / bar
Fast food
Atmosphere
Quiet
Family friendly
Rowdy
Themed
Perks
Free wifi
Entertainment
Free appetizers
24. • Fewer questions are used to
determine what customers
value
• The most flexible and
engaging type of conjoint
survey
• Results are less scientific –
they are not based on
regressions, but rather count
totals or percentages
Pros
Cons
Menu-based Conjoint Analysis
25. Telecommunications Company
• Modeled the buying
behavior demonstrated
in the market
MINUTES:
100 minutes
500 minutes
2000 minutes
Unlimited minutes
TEXTS
200 texts
500 texts
1000 texts
Unlimited texts
DATA
2 GB
5 GB
10 GB
Unlimited data
Cell
Phone
Minutes
1000
minutes
Texts
Data
27. Full-profile Rating-based Conjoint Analysis
• Display series of product
profiles
• Typically rated on a
likelihood to purchase or
preference scale
28. • Allows for the greatest
variation in responses
• Most granular feedback
• Can lead to respondent
fatigue
• Does not value the market as
accurately as other types
• Ambiguity between rating
scales
Pros
Cons
Full-profile Rating-based Conjoint Analysis
29. Laser Spine Treatment Marketing
• Goal: Develop effective $16M
advertisement campaign
• Action: Conjoint survey of individuals over
50 with moderate to severe back pain
• Impact: Doubled first year expected
revenue goal
31. Self-explicated Conjoint Analysis
• Direct ask of feature and levels
• Each feature is presented
separately for evaluation or
elimination
• Respondents rate all
remaining features according
to desirability
32. • Simpler and shorter for
respondents
• Fully supported within the
Qualtrics platform
• Lose all interaction effects
• It is limited to features and
levels that don’t include price
Pros
Cons
Self-explicated Conjoint Analysis
33. Financial Services Firm
Non-price related questions:
• Who do you prefer to contact
you? (Sales, customer
support, marketing, etc.)
• How do you prefer to be
contacted? (Phone call, text,
mail, email, etc.)
• Would you like to be followed
up with if not reached in first
attempt (Yes, No)
36. Qualtrics Professional Services
• 150+ conjoint projects per year
• Leverages the flexibility and reach of
the Qualtrics platform
• For a quote on professional services
work, feel free to reach out to us at
conjoint@qualtrics.com
37. Qualtrics Professional Services
Conjoint analysis is just one of the things the
Qualtrics Professional Services team does.
They're also great at:
• Voice of the Customer
• Website Advisory Services
• Custom Dashboards
• API Integration Services
• Research Consulting
• And much, much more!