Conjoint Analysis: Staff Training

This report describes the process of teaching a client proper execution of a conjoint study to enable them to conduct their own studies in the future. Sawtooth Technologies trained the client's staff on multiple teaching points and illuminated distinct market segments for the client to focus on.

Assignment
Train the research staff of a small kitchen appliances manufacturer how to execute a conjoint study that determined the product line mix the company should offer through a national retailer.

Teaching Points
Sawtooth Technologies trained the staff on:

• How to frame conjoint-related business issues
• What focus group input was needed to prepare for a conjoint study
• How to construct sets of attributes and levels that will achieve the study objectives
• How to choose the appropriate form of conjoint for data collection
• How to design, create, deploy and monitor an online conjoint survey
• What the sample size considerations and requirements are for conjoint studies
• How to choose the most appropriate way to compute utilities from the data and how to identify and profile market segments based on groupings of buyers with similar preferences.
• How to set up and run a market simulation model that predicts buyer purchase behavior
• How to run the model to determine the product mix
• How to interpret the model results and use them as input to product development decisions

Outcomes
The client successfully executed a conjoint study in-house, saving time on this study and money on future studies.

The study results showed that the client’s market was divided into three distinct segments, and the model was used to configure and price a line of three products, one for each segment, that maximized overall share. The results also led the client to switch emphasis from a new feature they were planning to promote to an existing feature that was a far stronger driver of purchase choice.

This content was provided by Sawtooth Technologies. Visit their website at www.sawtooth.com.