In the latest edition of the Product Mastery Now Podcast, AMS Principal Patty Yanes discusses conjoint analysis, a tool used to make informed decisions about what customers value. Conjoint analysis is the industry standard for understanding which features to include in a product, determining what price to charge for a product, and simulating market share impact for a new product introduction.
The Product Mastery Now Podcast is a podcast that helps you go from product manager to Product Master. Hosted by Chad McAllister, each episode dives into innovation tools and techniques for product masters, as explained through interviews with innovation pros.
In podcast episode 342: Conjoint the correct way – with Patty Yanes, Patty discusses how surveys allow companies to present consumers with a series of tradeoffs and choices. This data enables companies to discover how much consumers are willing to pay for a specific product or feature.
Patty also discusses examples of conjoint analysis, tips for creating and conducting surveys, and how to analyze the consumer data.
To learn more about conjoint analysis, listen to the podcast episode, Conjoint the correct way – with Patty Yanes
For more about conjoint analysis, view these additional resources:
- What’s it Worth to You? How Conjoint Analysis Reveals Underlying Preferences [Webinar]
- Navigating the Conjoint Analysis Minefield [Article]
- How to Put a Value on Customer Interactions [Webinar]
Patty Yanes is a principal at Applied Marketing Science. She helps companies in financial, industrial, healthcare, and consumer markets use research and insights to create more successful products, services, and customer experiences. In her role, she is responsible for client relationship management, as well as spearheading AMS’s application of discrete-choice methodologies in both litigation and corporate research engagements.
Tags: Conjoint Analysis