conjoint analysis


conjoint analysis
A statistical method that attempts to determine the relative importance consumers attach to salient attributes and the utilities they attach to the levels of attributes. The technique is based on the premise that products and services are made up of features or attributes that vary according to the identified preferences of consumers. The more dominant the interest in a particular attribute of a product, the higher will be the utility value given to it by actual or potential purchasers. It is widely used in marketing for various purposes, including concept identification of new products, competitive analysis, market segmentation, pricing, advertising, and distribution. See also utility theory

Big dictionary of business and management. 2014.