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Consumer Preference Research with Conjoint Analysis

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Carbonview brings you the first installment of the Market Research Toolkit series. This presentation will help you better understand consumer preference research using conjoint analysis. Carbonview research is a full service market research firm specializing in delivering custom research to brand managers, agencies and insights specialists alike.

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Consumer Preference Research with Conjoint Analysis

  1. 1. Consumer Preference InsightsUsing Conjoint AnalysisWednesday, June 12, 13
  2. 2. Consumer Preference Researchoptimizing products and services for market successCarbonview’s conjoint research methodology considers multiple factors in a consumers decision makingprocess.The success of products and services is often based on the optimal blend of factors includingshape, size, color, feel, service and price. Carbonview Research can help you better understand howmultiple factors work together to impact the consumer decision making process.Predict choices and spot industry trends through consumer choiceDiscover which product or service components drive purchase decisionsSimulate realistic marketplace scenarios and force participants to trade-offpreferred componentsDevelop informed strategies to meet customer preferences and drive salesWednesday, June 12, 13
  3. 3. Evaluate Product AttributesColor CombinationsShapeSoftwareFeaturesSizeFeelBrandingSpeed...and moreCustomers make purchase decisions based on a belief that the product or service is an optimal fit for theirneeds. In the example of a mobile device, shape, size, color, brand, applications available, carrier availabilityand price are some of the components that drive purchase. Carbonview can help you understand whichcomponents truly drive that decision.*product image used for example onlyWednesday, June 12, 13
  4. 4. Simulated Marketplace Combinations ForcePreference Trade-Off’s*product images and product specs usedfor example onlyWednesday, June 12, 13
  5. 5. Potential Use CasesNew Product Development: Understand which features or product attributes are most importantto potential consumers of a specific market segment.Customer Purchase Factors: Understand which components create the most value for your targetaudience and which have the greatest impact on purchase decisions. Go deeper to understandexactly which variants of each component are most appealing to your customersPricing Optimization: By looking at how customers make decisions, the economic impact of pricechanges can be assessed.With the conjoint model we can not only investigate price sensitivity butalso develop a more dynamic pricing model.Investment Prioritization: Understand where dollars are best spent based on consumer feedbackand preference. For example insights might suggest high resolution video on smartphones is drivingpurchase decisions in favor of a competitor due to availability.Innovation & Redesign: Identify market gaps and consumer needs to innovate and redesign existingproducts and services.Strategy Development: Understanding what is important to your target consumers will helps youeffectively market, position, price and differentiate. ....and moreWednesday, June 12, 13
  6. 6. Research Designed to Meet Your Needs“Carbonview Research can deliver the highest quality conjoint results in timelines that are setting a new barfor the industry. We developed an optimal operations process to help you understand your customers’preferences in timeframes that will meet any need…just ask us about it!”Bring us Multiple Concepts Test Concepts/Attributes Research Results FAST!with Key DemographicsRESEARCHContact Carbonview Research Todayconsumer-preference@carbonview.comUS: 1.866.340.7204UK: +44 (0) 203.239.4642Wednesday, June 12, 13

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