Conjoint analysis

A conjoint analysis allows a respondent’s preference in a product category to be broken down into trade-offs among its individual attributes. Respondents are invited to select, or rank, product profile cards which simulate possible offerings. A conjoint analysis can calculate the importance of each product category attribute (e.g. efficacy, tolerance, price, etc.) into a percentage, along with the perceived value (utility) of each attribute level. A conjoint analysis also calculates potential market share (called share of preference) for any possible scenario. Today, Choice Based Conjoint (CBC) is the most used conjoint analysis approach for many reasons (mimics purchase or prescription behavior, offers more
flexibility, and can be conducted online).