It can be challenging to catch up with analytical experts, market researchers, and statistical analysts if you lack a clear understanding of what conjoint analysis is.  Conjoint analysis is a type of marketing research method that aims at evaluating consumer preferences and what influences their buying choices, in order to help enterprises polish up their products or services and the prices.

The earliest use of conjoint analysis was in the early 1970’s where full profiles were being used to evaluate attributes. The technique has evolved over the years, and branched out to many sub-branches.

  1. Definition based on the design of Attributes in the Questions

There are two main categories under this type of classification; full profile and partial profile. Full Profile is where each choice set is designed with all the attributes, which should be less or equal to six to enhance understanding by the informants. In Partial Profile each choice set only has a number of attributes. This happens where the number of attributes is so many and one needs to categorize product features.

  1. Based on the Design

The two major classification types under this umbrella are generic conjoint and Brand-specific (alternative-specific design, alternative-specific conjoint, ASD). Generic conjoint aims at studying one brand or an all-inclusive product category, where all products have the same levels and attributes. Brand specific on the other hand studies different brands in an exclusive product category. This means different brands are assigned different levels.

  1. Based on the approach used in the questionnaire

This classification is based on how questions are phrased to respondents. In Standard Conjoint questionnaires are designed by use of complex algorithms that enhance the quality of analytics, plus analysis of the segments. Here the questionnaire is made ready prior to being passed out to respondents. The other category is for Adaptive conjoint where respondent are asked random questions and their answer forms the basis for the next question.

  1. Based on Response

This type of classification is broader since informants give a wide variety of responses.

  • Choice based conjoint analysis –This is where respondents are given choices for their most preferred option on one section if they don’t see what they buy on that list they can choose from the other list. It is the most popular conjoint methods because it is more open-ended and practical.
  • Ranking based conjoint –Here informants are to rank their alternative choices from best to worst but based on a set scale of number. They are also required to rank their immediate alternatives.
  • Best-worst conjoint – Here respondents are given three to four alternatives in every question and are then asked to rank these from best to worst.
  • Rating-based conjoint –Here respondents are required to the alternative products on a given scale, say 0-10. They could also be asked to give scores so that the numbers tally.

Although the classification categories look many and complicated, there are experts to help you out when you need it.

Author's Bio: 

If you are looking for Adaptive conjoint or Choice based conjoint analysis then call to Conjoint.Online at 408-600-0880.