Conjoint Analysis is a market research technique used to determine which product features are most valued by customers. It works by presenting respondents with a series of product profiles, each combining different levels of attributes such as price, efficacy, or route of administration. By analysing the choices made by respondents, the method estimates the relative importance of each attribute and the perceived value of each level.
In the pharmaceutical industry, Conjoint Analysis is commonly used for pricing studies, product optimization, and sales forecasting. Choice-Based Conjoint (CBC) has become the preferred approach due to its flexibility in experimental design and ease of online deployment. If you believe Conjoint Analysis could help solve one of your marketing challenges, contact us!