On using conjoint-analysis to do sensible things in the markets that are reflected!

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Conjoint-analysis is a statistical method with background in mathematical psychology. It is used for instance in marketing for predicting which choice the consumer will take, such in the choice between two brands. In this connection, it is good to estimate the consumer’s utility for the different alternatives.

Conjoint Analysis (CA) – also known as Choice Modelling or Discrete Choice Experiments (DCE) – is widely used for marketing research and in the social sciences for finding out what people care about when making choices involving trade-offs.​

CA addresses questions like:

• Which attributes (or features/characteristics) of a product or other alternative of interest (e.g. a government policy) are most important to consumers or citizens?
• What is the relative importance (weights) of these attributes?
• How are different products or other alternatives of interest ranked relative to each other, and which product/alternative is best?

Conjoint analysis is a survey-based statistical technique used in market research that helps determine how people value different attributes (feature, function, benefits) that make up an individual product or service. This is what we do mentally or in action when evaluated a product we have bought for using and consumption. Conjoint-analysis implies all the details with the products, and putting them together to make a unity. The word conjoint is consisted of the word con and joint, and this means making a unified solution, a united solution, and the second word is joined meaning putting different attributes together to make a product, and also comparing products to each other, either with a brand or with not a brand.

So, conjoint-analysis is about making a product what we want as a whole solution, and the product can be whatever. And it is about making trade-offs between attributes in the product to make the product with so good design and taste as we just want, for instance when making a pizza to eat, and how do we make a pizza in the best ways? And the other thing with conjoint-analysis is evaluating products in relation to each other, to find which product is best, and what we should say about the products that are not ranked in the highest way. So, when making a product we put details together to make a solution, and the product often has an interior and exterior design.

And product with and without a brand consists of attributes, and what a product is is the sum of all attributes together, for instance a pizza should contain cheese, meat and much more. And we should enjoy eating and consuming the pizza as it is when it is ready for consumption. And every book about this that takes care of the consumption behavior, should be a thick book with much research. In the sea, any platform should be designed as a whole, but there are different attributes or different properties there, and in addition we are comparing a platform to all comparable other platforms that we know and do not know. And platform is consisting of much technical equipment, and we are putting different details together to make a whole and a united solution.

So, conjoint-analysis is used for planning, implementation and follow-up for the product in question. And we should make any product with details which many people are appreciating. And conjoint-analysis is about what, how and why with any product that is produced for the market, and the market can be local and/or global!

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Sverre Larsen

Kristiansand, Norway

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