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Conjoint Measurement answered especially a central question: "With what features and what price my product must be equipped to provide the best success." This means that the method offers the possibility to optimally adapt your products in terms of price and features to the wishes of the consumers.
Conjoint measurement can be used for almost all products in all categories. Typical contents of conjoint measurement are targeting:
The analysis procedure shows, the importance of individual features of the product, on what characteristics define the customers particularly value and what influence these features have on the pricing.
Prior to the project the essential product characteristics are defined with their specification (package sizes, prices, flavors, technical specifications, etc.) and a customer survey designed, which is very close to the real purchasing decision situation.
In the second step of the customer survey product concepts are presented and evaluated by consumers. Here it turn up to a trade-off the advantages and disadvantages of the individual product features.
In the third step - the method of analysis - could be mathematically determined precisely from these consumer decisions which benefit contributions of individual product features for the preference of the concepts. With the help of this "Benefits Information" you are now able to simulate scenarios and to create the "perfect" product.