Optimse your products before you go to market
Stop guessing which products consumers will love
Conjoint analysis is the optimal market research approach for measuring the value that consumers place on features of a product or a service. If you're about to launch a new product a conjoint analysis configures the product and price that will have the biggest impact on your business. Simply put. Takes the guesswork out of your product launch.
+ Understand what combination(s) of features has the best market potential in terms of customer attractiveness, sales volume, and revenue (and profit)
+ Understand which consumers the product will attract
+ Understand what opportunities there are for a new product to assert itself against existing products in the market
+ Understand which price range is optimal for the concept's potential
+ Understand which areas you should priorities to maximize your chances of success
As close you can get to real life behaviour
The conjoint analysis combines real-life scenarios and statistical techniques with the modeling of actual market decisions and is widely used in consumer products, durable goods, pharmaceutical, transportation, and service industries.
Calculate the potential of your offer as its properties change
With the help of Conjoint, we can calculate how the potential of your offer changes as its properties change. Examples of characteristics may be price, packaging, claim, installation services, etc.
By measuring how the respondent chooses between properties and between offers, we can understand the potential of a product offering, its price sensitivity, and how the market values the various properties that are included.
Essential insights before you go to market.
"Meet Igor. Our Russian math genius & Conjoint Expert"
Working at Odyssey, I value the most the possibility to apply mathematics every day. The creation and development of models for scalable products that combine marketing research and behavioral data include solving challenging math problems in various areas. And that's fun! It is what drives me and lets me learn new things "by doing".
I've conducted Conjoints for the last seven years and seen firsthand how powerful this analysis can be.
Conjoint should be a staple in your research toolkit.
Senior Data Scientist, joined march -19