Perfect Products and Prices
In contrast to static cross tables, INNOFACT Conjoint Analyses allows you to vary and nuance with properties of products and services. In this way, new properties can be simulated again and again within the framework of a survey.
INNOFACT Conjoint Analyses are an indispensable tool for the design of products and prices.
INNOFACT has its own panels for direct access to over half a million consumers throughout Germany and delivers results in impressive depth. Suppliers of products and services of all kinds use the cooperation with INNOFACT to secure decisive competitive advantages in highly competitive markets through conjoint analyses.
The ideal way to the perfect decision
The basic principle of the INNOFACT Conjoint Analysis is the dilemma. In every analysis, the test persons are asked to make trade-offs between individual product characteristics. They always have to decide between two or more properties. Only from these trade-offs can valid conclusions be drawn as to which characteristics are actually important.
Trade-Offs as Analysis-Core
Trade-offs are the core of all conjoint analyses. Thefollowing (simplified) example illustrates this:
Do you prefer …
a) … a Porsche?
b) … a Nissan?
Do you prefer …
a) … a car with 150 hp?
b) … a car with 350 hp?
Do you prefer …
a) … a Porsche with 150 hp?
b) … a Nissan with 350 hp?
It becomes clear that the respondent only reveals his priorities in the conjoint implementation. It is only here that it becomes apparent whether the respondent is more likely to base his purchase decision on the brand or on engine performance. In complex INNOFACT Conjoint Analyses, these templates are systematically varied so that the purchase decision process can be precisely described.
Available Conjoint Approaches
- CVA (Conjoint Value Analysis)
- ACA (Adaptive Conjoint Analysis)
- CBC (Choice Based Conjoint, inkl. Hierarchical Bayes)
- ACBC (Adaptive Choice Based Conjoint)
- MaxDiff (Maximum Difference Scaling)
- Analyse-Tools (Hierarchical Bayes, SMRT, ASM Advanced Simulation Mode)
Advantages at a glance
INNOFACT has all the necessary advance to success-fully carry out complex conjoint analyses.
- Knowledge of the possibilities and theoretical understanding: The analytical power of conjoint analyses unfolds only with the knowledge of the possibilities.
- Knowledge of the limits: If the limits are exceeded, for example with regard to the number ofproduct properties, the results become diffuse.
- Software: INNOFACT has a Conjoint Specialist Software, which also includes newer approaches and uses the industry standard of the Sawtooth Group, including Hierarchical Bayes (individualcase analysis) and a simulation tool that can belicensed to customers for independent analysis.
- Practical experience: Neither software nor an elaborate conjoint approach lead to action-relevant results when the most important thing is missing: experience. From a large number of conjoint projects, INNOFACT has developed a valuable wealth of experience that makes it possible to work precisely, cleanly, quickly and without frills.