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Automated Choice-Based Conjoint Analysis (CBC)

Choice-Based Conjoint Analysis (CBC) is used to measure preferences (e.g. attribute importance), and the willingness to pay for products and services. CBC asks participants to make trade-off decisions between different products in a competitive environment. These trade-off decisions can then be used to find out how purchase likelihood is influenced by various product attributes, such as brand, price, or technical attributes (e.g. a smartphone's battery life).

quantilope's Choice-Based-Conjoint is fully automated, allowing users to drag and drop the method into their survey instantly, customize as needed, and start seeing results in real-time. 

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Benefits of quantilope's automated CBC: 

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Intuitive real-time market simulator mimicking a true shopping experience

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Actionable product optimization by identifying specific areas of improvement

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Considers a number of attributes for a complete product understanding

Applications of quantilope's automated CBC? 

What is the optimal price for a new product?

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In this scenario, the optimal price for the energy drink AMP is $1.39, where the purchase probability is highest at 15%
 

What product features do consumers have the greatest willingness to pay a premium price for?

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Between a can, glass bottle, and plastic bottle, consumers are willing to pay more for a glass bottle when purchasing an energy drink.

“Using quantilope’s automated conjoint analysis it became very clear that not all customers think the same. These differentiated results helped decide who to target with which services”

- Hermann Hausenbiegl, Head of Customer Insights & Analytics at Zurich Austria

Zurich

 

Additional automated methods

Request an automated CBC demo