Perfect Products and Prices
In contrast to static contigency tables, INNOFACT Conjoint Analyses allows you to vary and tune properties of products and services. In this way, new properties can be simulated within the framework of a survey again and again.
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 product trade-off. 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 valid conclusions can be drawn as to which characteristics are actually important
Trade-offs as core of the analysis
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 their 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 described precisely.
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 experience to successfully 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 of product characteristics, the results become diffuse.
- Software: INNOFACT has a Specialist Conjoint Software, which also includes newer approaches, and uses the industry standard of the Sawtooth Group, including Hierarchical Bayes (individual case analysis), and a simulation tool that can be licensed to customers for independent analysis.
- Practical experience: Neither a software nor an elaborate conjoint approach lead to action-relevant results if the most important thing is missing: experience. INNOFACT has developed a valuable wealth of experience from a large number of conjoint projects, that makes it possible to work precisely, cleanly, quickly, and without frills.