When do you choose a Choice Based format?
When you need to understand the value that a consumer places on the features of your product or service; the decision-based choices they need to make or perhaps to help create a range or pack hierarchy strategy.
There are two types of conjoint analysis: choice-based conjoint and adaptive conjoint analysis. Choice based studies focus on questions such as “would you rather?” whereas studies such as Adaptive Conjoint Analysis, lean more towards a a Likert scale format (e.g., most likely to least likely) to measure the consumer attitudes.
Conjoint studies can also be an important tool in evaluating brand equity and estimate how much of your market share is impacted by other brands tradeoffs like pricing or features. This tool can be great for any companies thinking of remodeling or revamping their product range.