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Do you know exactly how to position your company’s products and services in the marketplace?


We do…contact us and we’ll tell you more…

 

Why you need conjoint analysis

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Case Studies

See scientific evidence of how The Murray Consultancy improved efficiency in NHS neighbourhood health centres in the North West using conjoint analysis. 

 

Conjoint analysis has cross-sector applications. Our case studies examine how we applied our expertise to the public and private sectors.

Benefit of conjoint analysis

Conjoint analysis models what your customers will decide before they even make their choice. Imagine what that can do for your product or service.

 

If a company wishes to truly ascertain how consumers will choose products and services, conjoint analysis provides a thorough, accurate and scientific approach to seeing inside customers’ minds.

How does it work?

Let us walk you through a typical conjoint analysis project so you can see the potential of true profitability and efficiency benefits.

 

Conjoint analysis ranks the importance of product or service attributes and this information is used to position your offer in its correct position in the marketplace.

Conjoint Analysis To Go!

This abbreviation of ‘Considered Jointly’ is an evaluation of choice. Imagine the scene: you go to a retailer to buy a new hi-fi. You see all the great brands, all at different prices, some are available ex-stock, outputs differ… you are confronted with choice….

 

“I like X, but it’s the most expensive, and it’s not available ex-stock…”

 

“Y is a strong brand, cheaper than X but not as powerful…”

 

You are starting to make trade-offs to enable you to decide what to buy. Marketers need to understand this process. One tool available is conjoint analysis, which analyses this snapshot of behaviour by deriving the utility or value a consumer places on each element of the proposition.

Welcome to the world of choice and how you position your product in the competitive marketplace.

 


 

This is how you can predict your customers’ choices…

In conjoint analysis, consumers are asked to react to a number of hypothetical concepts or service descriptions. When consumers are offered a wide range of choices, they would ideally like to have everything but will inevitably have to ask themselves “What am I willing to sacrifice for something I really desire?” Since we can’t have everything, trade-offs are inevitable.

 

How Does Conjoint Analysis Work?

Proven to increase profitability in the private sector and efficiency in the public sector…

Determining the optimal balance of trade-offs is where statistics play an important role. Trade-off analysis or conjoint analysis is a collection of standard statistical techniques that provides objective insights into consumer preferences. The Murray Consultancy can scientifically help organisations become more profitable.

 

See The Benefits and Applications

 

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