Conjoint analysis continues to be one of our most requested market research solutions — and for good reason.
Conjoint can help you get better results in all these ways:
- Launch better products
- Design better packages
- Set better prices
- Define better segments
- Execute better campaigns
However, conjoint isn't easy and there are many pitfalls and challenges that beset even the most experienced research and marketing professionals.
So, after many requests, we've assembled 10 Conjoint Do's and Don'ts that will put you on the path to success with your next conjoint study. Here is #4.
#4 — Don't Assume You Can Extrapolate Share
In conjoint research, "preference share" is not the same as market share.
This is because the conjoint research makes assumptions about product distribution that may not be real.
The good news is that shares of preference are very powerful. They help us understand the following:
- Our product's market potential
- How well liked our product is vs. competitive products
- What aspects of the product (brand, feature or price) contribute most to preference