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Konjoint-Analysis

Konjoint-Analysis

Conjoint analysis is a complex market research method that helps to understand customer preferences. In this guide, we'll show you how to conduct a conjoint analysis in just a few steps.

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🎯 Set target of conjoint analysis

Before you start the conjoint analysis, you need to determine the goal of your research. Do you want to find out which product features are most important to your customers? Or do you want to understand how much your customers are willing to pay for certain product features? A clear goal will help you ask the right questions and collect the most relevant data.

📝 Define features and levels

In the next step, you need to define the characteristics (also called attributes) and their levels that you want to investigate in your conjoint analysis. For example, if you want to launch a new smartphone, the attributes could be "screen size," "battery life," and "price," and each attribute could have different levels (e.g., "5.5 inches," "6.1 inches," and "6.7 inches" for screen size).

📊 Create test design

Now you need to create a test design. This means you have to decide which combinations of characteristics and levels you want to present to your test takers. A good test design ensures that you collect all the necessary data without overwhelming your subjects with too many questions.

👥 Selecting test subjects

Now select the people who will participate in your test. They should be representative of your target group. Make sure they have enough time to participate in your test and that they are willing to give honest feedback.

📈 Analyze data

After you've collected the data, it's time to analyze it. With conjoint analysis, you can find out which characteristics are most important to your subjects and how they weigh between different characteristics and levels.

🎓 Interpreting and Using Results

The final step is to interpret and use the results. Conjoint analysis can give you valuable insights into your customers' preferences. Use this information to develop better products and plan more effective marketing strategies.

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