This document provides an overview and introduction to conjoint analysis, including:
- Conjoint analysis is a market research technique used to determine the relative importance of product attributes and consumer preferences for different attribute levels.
- It uses a full-profile approach where respondents rate or rank complete product profiles consisting of different attribute level combinations.
- An orthogonal array is used to generate a manageable set of product profiles that can capture main effects while minimizing the total number of profiles.
- The profiles are presented to respondents who provide preference data that is then analyzed to calculate part-worth utilities quantifying preferences for each attribute level.