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Conjoint Analysis

In: Identifying Hidden Needs

Author

Listed:
  • Keith Goffin

    (Cranfield School of Management)

  • Fred Lemke

    (Alliant International University)

  • Ursula Koners

    (Cranfield School of Management
    S. Siedle & Söhne OHG in Furtwangen)

Abstract

Before making a purchase decision, a customer will often compare several products, each of which is likely to have a different price and a different set of features. A more expensive product is likely to have higher performance but it may be visually less appealing. Another product will offer a combination of features with less performance but a more attractive design and reasonable price. For example, we might like the biggest LCD television, with the built-in DVD recorder but we may only be able to afford the mid-range products, which have some good features but not everything we would like. Before making their final decision, customers make subconscious assessment of the range of products on offer. Conjoint analysis (GA) is the method that allows us to understand this subconscious assessment—the way customers compare and assess different services or products.

Suggested Citation

  • Keith Goffin & Fred Lemke & Ursula Koners, 2010. "Conjoint Analysis," Palgrave Macmillan Books, in: Identifying Hidden Needs, chapter 8, pages 176-195, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-29448-6_8
    DOI: 10.1057/9780230294486_8
    as

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