Product Evaluation

with Conjoint Analysis

Consumer Insights with Conjoint Analyses

Product launches, relaunches or the reorganisation of product portfolios are initiated with the goal of optimizing sales opportunities and contribution margins. A thorough evaluation of the product or concept provides you with precise insight into the extent to which this goal can be achieved, giving you the certainty that your concepts and products are developed corresponding to market trends and will yield the envisaged success.

 

Your Questions

  • Which product properties catch the eye? Which features are of greatest benefits from the customers' perspective?
  • What are potential buyers willing to pay?
  • What are the product's (strategic) strengths and weaknesses? In which areas does the product still have room for improvement? To what extent can strengths be exploited to achieve a higher price that consumers would be willing to pay?
  • Which product is best suited to the market?
  • What is the best possible product mix? How can cannibalisation be minimized?

Our Solution

We developed the «NLR product evaluator», a modular test methodology, in order to conduct product evaluations. Together with you, we select the modules best suited to your questions. A conjoint analysis, measuring the preferences of your target group, is at the core of the «NLR product evaluator». Our approach in selecting the appropriate conjoint methodologies is at all times based on the latest results of academic research and the particular nature of your questions. For instance a choice-based conjoint analysis with hierarchical Bayes analysis (HB) has proven the most effective method of testing services products. We design this method individually, ensuring that each respondent is presented with a unique product configuration, provided this ensures greater realism and more validated results.

We combine the results of the conjoint analysis with standard concept test scales (e.g. likes/dislikes) as well as eye-tracking in order to ascertain which features have the potential to catch the eye and to evoke spontaneous appeal. Products are only shortlisted if they perform well in this segment. It is of no consequence whether the data is mined online or in test studios: Our eye-tracking methods are suitable for both survey methods.

We recommend using our «NLR emotracker» to conduct an analysis of affective parameters if product selection is driven strongly by emotion. The synopsis of neurophysiological parameters enables us to determine the extent and the quality of emotional responses.

Your Results

  • We do not deliver columns of figures. We provide you with clear recommendations for your product design.
  • Each recommendation and every summarized overall assessment can be broken down and reproduced on the basis of individual judgements.
  • We provide examples to demonstrate which measures/concept modifications will yield what type of effects.
  • Together with you, we also develop dynamic models, taking your competitors' possible subsequent action into consideration.
  • We are also happy to include your in-house parameters (e.g. unit costs) and integrate them into our models, for instance to identify profit-optimized concepts.
  • We cater to your wishes in the documentation we provide – be it PowerPoint chart reports, tabled results in Excel or interactive simulation tools.

Contact us

Dr. Torsten Melles Managing Partner
+49 (0) 21 03 / 25 819 - 33