Choice-Based Conjoint mimics a shopping experience, asking respondents to choose among varying products described by features and price, leading to a model that explains what drives buyer choices.
Prioritize your product development roadmap MaxDiff (best-worst scaling) research analysis technique not only reveals which features your customers care about the most, it quantifies their interest so you can make data-driven product decisions.
Using conjoint analysis, you can see where your product will succeed within the marketplace, positioning your product vis-à-vis competitors to increase revenues, profits, or market share.
MaxDiff (best-worst scaling) reveals which messages and advertisements resonate best with your customer bases.
Standard rating scales provide relatively imprecise and biased data compared to choice analytics such as MaxDiff and CBC. Respondents tend to straightline with ratings scales, leading to less information content. Scale use differences such as positivity bias (yea-saying) also make rating scale data weak for cross-cultural research and correlation analysis.
Choice questions yield more accurate and unbiased data because they ask respondents to choose among products or items being shown to them. Respondents cannot say that all products are equally desirable and there is no rating scale to lead to scale-use bias.
Conjoint analysis is a realistic questioning approach that mimics how buyers shop in the real world. We show respondents multiple products described by varying characteristics (often involving price) and observe their choices. When respondents have to make hard choices in the conjoint questionnaire (similar to how they face challenging tradeoffs in the real world), it shows us what they truly value.
Conjoint analysis data lead to powerful and intuitive what-if market simulators for predicting what buyers would do in future market scenarios.
MaxDiff (best-worst scaling) works much better than standard rating scales for prioritizing and quantifying the importance or preference for items on a list. MaxDiff places the list items into subsets of 4 or 5 and asks the respondent to choose which is the most important and least important for each subset.
MaxDiff asks the respondents to make simple best-worst prioritizations and in turn reveals the true order and magnitude.
Lighthouse Studio is our industry-leading Windows desktop application survey and survey analysis software tool for MaxDiff and conjoint analysis. It also gives you full power and flexibility to author online and offline surveys, analyze data, and run market simulations. Many use Lighthouse Studio for all their general survey and choice analytics needs.
We want you to succeed—from your first conjoint analysis study to your thousandth. That’s why all licensed customers get access to our entire team of knowledgeable and friendly people who fully understand conjoint analysis and are ready to help you every step of the way!
From white papers to webinars and an active community forum, you have everything you need to complete a successful conjoint analysis study.
Get the most out of our tools by joining us at one of our many immersive, in-person training courses around the world. Want more in-depth and individualized training? We’ll come to you!
We host your surveys on our secured servers for free (no additional cost per complete), and we allow you to host on your own server too.
Phone? Tablet? Desktop? Our surveys automatically adapt to different screen sizes. Even conjoint exercises are mobile-responsive.
Seamlessly link your survey and pass data to, or from, a panel company or other survey software platform.
Collect only the data that matter most—use choice exercises that are automatically responsive to the preferences and opinions of your respondents.
Use Conditional Pricing to control for premium vs. standard brands or use Summed Pricing to add incremental value depending on an attribute or level.
Use the choice simulator to automatically search through all possible product combinations and optimize for share, revenue, utility, or profit.
Collect data on devices without an internet connection. When you have a connection, upload and sync your data to a central location.
Select, Ranking, Rating, Numeric, Open End, Constant Sum, Grid, Semantic Differential, and more. Or even build your own question!
Skip logic, Quota control, Piping, Looping, Dynamic lists, Test Data Generator, Segmentation, Shelf-facing display, etc.