Full-service choice based conjoint market research
A Choice Based Conjoint (CBC) approach exposes survey respondents to a series of "choice sets." It allows more detailed and realistic testing of potential trade-offs that may be made between attributes at various levels. In practice, it is common in choice based conjoint to test between 3 and 8 different attributes, which each attribute defined at several different levels.
Experimental design principles are used to construct a limited number of different choice sets for testing in the survey. The number of conjoint choice sets and the configurations used are carefully controlled to ensure valid statistical estimation of the relative importance of each level of each attribute. The statistical estimates are commonly called "utility values," and a different utility value can be estimated for each level of each attribute, for each respondent. Once these utility values are estimated, it is possible to simulate choices given thousands of different possible scenarios. Amplitude Research can provide expert conjoint study design by a member of our statistical services team.
It is important to make sure that the choice based conjoint tasks in the survey are as realistic, reasonable and understandable as possible to the study participants. If conjoint study participants become confused or overwhelmed by the amount of detail covered and/or complexity of the tasks, they may become unwilling to participate and/or unable to provide reliable answers.
This usually means that decisions need to be made about which attributes are truly critical for inclusion in the choice based conjoint exercise. While there may be a number of attributes of potential interest as part of the conjoint market research, it may be necessary to identify six items that would be most critical for choice based conjoint testing. Amplitude Research can provide expert advice on the best solution and form of conjoint market research after evaluating a client's specific needs.
When properly designed, an advantage of the choice based conjoint approach is that it can closely mimic choice scenarios that decision-makers may actually face in the near future. Amplitude Research would advise on the wording and amount of detail to use in the survey descriptions to ensure proper interpretation by survey respondents. Then, we would deploy the survey instrument and provide full-service administration of the conjoint market research study in concert with our statistical services team.
Advanced statistical techniques would be used to extract as much information as possible from the data. A highly experienced Amplitude Research statistician would conduct conjoint analysis to maximize the insights gained from the conjoint market research. The findings would be summarized in a customized, management-oriented PowerPoint or Word format. The report would also present and discuss a number of simulated choice results, given various scenarios that are relevant to thoroughly understanding the decision processes used by participants in the choice based conjoint study.
Please contact us if you would like to learn more about our expertise in the area of choice based conjoint, or to discuss alternatives such as direct ratings of importance, importance rankings, or MaxDiff.