Conjoint analysis is a Choice Modeling technique which involves presenting people with a series of hypothetical products, called profiles, and asks the people to rank or rate the products in order of appeal. The basic idea is that by looking at which alternatives get a higher rating (or ranking), we can understand what is important to them. For example, if somebody always rates the alternative with the lowest price the highest we can conclude that price is most important to them.
The table below contains descriptions of sixteen different soft drinks. Please rank them according to how likely you would be to buy them, writing a “1” next to your most preferred product, a “2” next to your second most preferred product, and so on until you have given ranks of “1” to “16” to the products.
|2||$2||Virgin||300 ml||Glass||Diet Cola||Yes||______|
|4||$2||Virgin||300 ml||Plastic||Diet Cola||No||______|
|6||$2||Coke||400 ml||Glass||Diet Cola||Yes||______|
|8||$2||Coke||400 ml||Plastic||Diet Cola||No||______|
|10||$3||Virgin||400 ml||Glass||Diet Cola||Yes||______|
|12||$3||Virgin||400 ml||Plastic||Diet Cola||No||______|
|14||$3||Coke||300 ml||Glass||Diet Cola||Yes||______|
|16||$3||Coke||300 ml||Plastic||Diet Cola||No||______|