Latest Updates for Conjoints & MaxDiffs

KatharineSKatharineS Seattle, WACommunity Administrator Administrator
edited September 2019 in Featured Product Updates

Latest Updates for Conjoints & MaxDiffs

All summer long we've been adding cool new capabilities to our Product Experience line, so you can enter fall ready to perform conjoint and maxdiff analysis to your heart's content. Whether you're researching what products to push this holiday season, or just trying to pass your first semester marketing class, here are some PX improvements that can benefit you:

Willingness to Pay is a conjoint tool that calculates... well, a customer's willingness to pay for a product. You can force customers to make trade-offs all day and night, but it doesn't mean much if the end product doesn't make customers reach for their wallet. Learn how to set up willingness to pay, check out the simulator to compare how much customers are willing to pay for each package, and then check out reports to see a breakdown of price differences per level.

Invite colleagues to collaborate on conjoints and maxdiffs with you. This is for the times when sharing a simulator simply isn't enough; you may want a colleague to help you write out the survey questions, distribute the project, or add pretty pictures.

Speaking of which, you can now make it easier for customers to choose between attributes by providing pictures! That way your customers don't have to guess if by "yellow" you mean a gentle goldenrod, a pleasing pastel, or a horrific neon that burns their eyes just looking at it. Both conjoint levels and maxdiff features support images now.

Last (but certainly too cool to be least), you can now add an anchored maxdiff question. This can help you determine the importance of the trade-offs the customer is making. After all, if you ask someone to pick between choice A and choice B, sometimes the customer's preference is dire (like choosing between a kitten and a tarantula) and sometimes it's largely arbitrary (like choosing between a rabbit and a hare. What is the difference, anyway?).

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