Conjoint analysis involves a series of questions that are presented to the respondent based on the features and levels being evaluated. The method determines the desirability and the importance of each feature and level. The goal is to reveal the underlying value respondents would consciously or subconsciously place on profiles that represent full product configurations. Conjoint analysis has become one of today's most commonly used market research tools for designing and pricing products. Conjoint analysis provides useful results that are easy for managers to embrace and understand.

Finally, once you have completed a choice based conjoint study, you can have a Market Simulator Tool that continues to evaluate the potential use of your product when new market scenarios emerge.