A Practical Guide to Conjoint Analysis

8 Pages Posted: 21 Oct 2008 Last revised: 10 Nov 2021

See all articles by Ronald T. Wilcox

Ronald T. Wilcox

University of Virginia - Darden School of Business

Multiple version iconThere are 2 versions of this paper

Abstract

This technical note provides an overview of conjoint analysis. It shows how to interpret standard conjoint analysis output and the uses of that output. It provides several examples of how output can be converted to managerially useful information.

Excerpt

UVA-M-0675

Rev. Jun. 27, 2019

A Practical Guide to Conjoint Analysis

Introduction

Conjoint analysis is a marketing research technique designed to help managers determine the preferences of customers and potential customers. In particular, it seeks to determine how consumers value the different attributes that make up a product and the tradeoffs they are willing to make among the different attributes or features that compose the product. As such, conjoint analysis is best suited for products that have very tangible attributes that can be easily described or quantified.

Although the history of conjoint analysis can be traced to early work in mathematical psychology, its popularity has grown tremendously over the last few years as access to easy-to-use software has allowed its widespread implementation. There have been probably thousands of applications of conjoint analysis in industrial settings. Some of the more important issues for which modern conjoint analysis is used are the following:

. . .

Keywords: conjoint analysis, quantitative analysis, willingness to pay

Suggested Citation

Wilcox, Ronald T., A Practical Guide to Conjoint Analysis. Darden Case No. UVA-M-0675, Available at SSRN: https://ssrn.com/abstract=1280602 or http://dx.doi.org/10.2139/ssrn.1280602

Ronald T. Wilcox (Contact Author)

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

HOME PAGE: http://www.darden.virginia.edu/faculty/wilcox.htm

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
179
Abstract Views
879
rank
24,154
PlumX Metrics