Conjoint analysis studies are implemented primarily for the estimation of demand for new products. Typically, these products can be described or have been developed in drawing or concept, but have not yet been developed physically. Conjoint analysis allows the manager to develop market share estimates to find which of the alternative potential products offer the greatest market promise.

General Measures that are part of a New Product Market Acceptance Analysis
Product Specification
Identification of product attributes or features
Identification of levels for each attribute or feature

Elimination of Unacceptable Features and Levels
Presentation of attributes for elimination of totally unacceptable features

Evaluation of Feature Level Acceptability

a. Present full profiles derived from a fractional factorial design.
OR
b. Present individual attribute level characteristics for evaluation.

Evaluation of Feature Importance
Constant Sum scale to measure feature importance using one of the following approaches
a. Present all attribute levels (not recommended)
b. The set of “most acceptable levels”, where one level is from each attribute. The selected attribute levels are presented in a constant sum to measure the relative importance of the “most acceptable attribute levels ” ( recommended)
c. The “ extreme upgrade” pairs for each attribute are identified. This approach combines the most and least preferred pairs for each attribute (does not provide as much importance variation as option b).

Validation With Full Profile Choice Sets
Presentation of choice sets describing new product for evaluation of preference or purchase likelihood

Other Options
Evaluation to determine optimal pricing levels for concepts.
Include demographics or variables for market segmentation
Solicit other recommendations for improvement