XM Solution Automated Project

Conjoint - Optimum Package Analysis

Design the perfect products and services from the features to include to the optimal price point and see the impact of your decisions.

COST

Paid

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CORE EXPERIENCE

Product Experience

METHODOLOGY

Conjoint Analysis

CREATED BY

Qualtrics

Conjoint analysis made easy

Conjoint analysis allows you to make decisions knowing exactly how they’ll impact key metrics like sales and revenue. It uses choice modeling to present consumers with a range of options and then applies powerful analytics to identify the perfect package of features and price to ensure your next product launch is a success.

Conjoint analysis is particularly useful when you want to:

  • Understand how a new product will perform in the market
  • Identify areas for improvement that will increase sales and willingness to buy
  • Upgrade existing products by testing out new features

Focus your product development spend on improvements with a proven impact

OUTCOMES DELIVERED

  • Know the features to focus on to improve your key sales metrics
  • Set the right price point for new products and services
  • Understand the impact of any changes before you invest in them

CATEGORY TAGS

Product ExperienceXM Solution Automated Projects

Simulate changes in a few clicks

See how changes to your product impact your core metrics like willingness to buy with an intuitive simulator that shows you how your key metrics are affected with every change you make.

A crystal ball into product success

Understand exactly how your new product will perform by testing out features, packages and pricing — just list your variables (such as product features or price points) and you’ll automatically see the best performing combination.

What You Get

Expert-built Surveys

An expert-built conjoint analysis survey template loaded with the right questions to save time and get results faster.

  • Product research subject matter expert designed methodology
  • Pre-built logic and survey structure
  • Automated workflow

Response Recommendations

Use your own internal customer lists or use Qualtrics Research on Demand to get responses from a panel of your target audience.

With every conjoint analysis project, you’ll see exactly how many responses you need to get statistically significant results. As you build out your variables, the platform will automatically update with the number of responses you need.

We make it easy to get responses:

  • Upload your own contacts
  • Purchase respondents directly in Qualtrics

Prebuilt Reports

Get instant analysis of your data. Pre-built reports help you spend less time analyzing data, and more time delivering results.

  • Instant analysis of your data
  • Identify preference share all the way down to individual features
  • Simulator tool allows you to see the impact of changes in real time

Additional Resources

  1. Qualtrics Conjoint Analysis Software Tool
  2. eBook: 12 Business Decisions you can Optimize with Conjoint Analysis
  3. Article: What is a Conjoint Analysis? Conjoint Types & When to Use Them

SOLUTION DETAILS

Required License: Research Core 3

Support Documentation: How to get started with Qualtrics Conjoint 

LANGUAGES

English

CATEGORY TAGS

Product ExperienceXM Solution Automated Projects