The Seven-Step Process to Implementation of a Conjoint Study
Conjoint analysis is an advanced technique that brands have adapted to stimulate competition, provide better products and also to model products in order to create and meet demands. The methods used in programming conjoint analysis include Matrix Table question and MaxDiff variation.
The main aim of market researchers using combined analysis is to identify utilities; the things that influence people to make trade-offs and make choice of specific products among a variety that appear to have many characteristics or attributes. To implement a conjoint research, there are seven typical steps that researchers go though:
Problem identification. Here one has to discern the dimensions and the attributes, and decide on the number of levels to be created on each of the attributes selected.
Develop a study protocol. This step involves finding the necessary contacts, doing a sample study also...