Optimizing for Success with Conjoint Analysis
In today's crowded market, we use conjoint analysis to advise our clients on how to optimize product features, benefits and price points in order to gain a competitive advantage. Basis provides in-depth expertise in this space, spanning a broad range of conjoint techniques like Choice, Adaptive Choice, and Menu-Based Conjoint.
We combine our detailed conjoint know-how with insight consultancy and commercial acumen. This delivers clear insights and strategies to help our clients grow market share, profit, and revenue.
We have developed a unique framework that delivers clear ROI from our clients’ investment in conjoint analysis. This approach anchors the work in the relevant commercial and operational context, ensuring we provide actionable recommendations for each client.
Our conjoint studies tackle a wide range of business challenges, such as:
Our conjoint analysis process follows a thorough immersion, design, and delivery framework, outlined below.
Stage 1:
The initial immersion stage ensures we fully understand the decisions the conjoint needs to inform, along with any accompanying commercial or operational parameters that will feed into the decision-making process.
Stage 2:
During the design phase, we develop fit-for-purpose conjoint solutions. Here, we take into account the number and nature of variables included, the real-life buying decision we are trying to understand, and the strategic decisions that the analysis will influence. This allows us to build customised conjoint solutions, as opposed to selling one-size-fits-all products.
Stage 3:
The delivery phase focuses on deriving the 'so what' and the 'now what' from the conjoint results. We create clear narratives with concrete and actionable recommendations, tailored around our clients’ specific needs.
During this phase, we develop user-friendly, intuitive simulators designed for easy 'what if' modelling, price optimisation, product innovation, and in-depth subgroup analysis. The simulators typically include dampening and calibration to account for any research effects, providing an accurate simulation of real-life behaviours.
