Will they buy my product? Conjoint Analysis and New Product Development

In order to create new products and services you need to know your individual customer’s needs and preferences. You need to understand what features the new product should have and how it should be priced. Essentially, you need to know how likely it is that they will buy your product.

Conjoint Analysis is a special type of statistical analysis which is used to measure the perceived value of specific product features and to forecast the likelihood of buying/ using the product. It determines how people value the different features that make up an individual product or service.

There are various methods of Conjoint Analysis available to you and Digitab can help you to identify the appropriate approach for your needs and guide you through the research, however complex.

Conjoint methodologies available from Digitab include:

  • Choice based conjoint/ Discrete choice modelling
  • MaxDiff
  • K&S analysis
  • Brand Price Trade-Off/ Essential Rank analysis

To learn more about our Conjoint Analysis offer please contact mike@digitab.com.uk