Conjoint analysis is a statistical technique that is used to decompose a complex product or service into its key attributes or features. This information can then be used to understand how customers value different features and to make decisions about product development. Conjoint analysis can be used to understand customer preferences for new products, to design more effective marketing campaigns, and even to optimize pricing. While conjoint analysis can be a helpful tool, it is important to remember that it is only one tool in the toolbox and that other factors should also be considered when making decisions about product development.
Conjoint analysis is a market research technique in which respondents are systematically presented with a rotating set of product descriptions.