SawtoothSoftwareTECHNICALPAPERSERIESConjointValueAnalysis(CVA)Version3.0©Copyright1997-2002,SawtoothSoftware,Inc.530W.FirSt.Sequim,WA98382(360)681-2300www.sawtoothsoftware.comCVAAFull-ProfileConjointAnalysisSystemFromSawtoothSoftwareVersion3CopyrightSawtoothSoftware,Inc.Sequim,WashingtonUSA(360)681-2300http://www.sawtoothsoftware.comGeneralDescriptionTheCVASystemisacompletesoftwarepackagefortraditionalfull-profileconjointanalysis.CVAisacomponentwithinSawtoothSoftware’sSMRTsystem.SMRTstandsforSawtoothSoftwareMarketResearchTools.CVAincludes:-Adesignerforcreatingthestimuli(productprofiles)displayedinconjointinterviews-Aquestionnairecomponentforproducingcomputer-basedinterviewsorpaper-and-pencilsurveys-Twoutilitycalculatorsforestimatingeachrespondent’spartworthutilities(strengthsofpreference)forproductfeatures-Amarketsimulatorfortestingalternativeproductscenariosanddisplayingaverageutilitiesandimportances.CVAstandsfor“ConjointValueAnalysis.”TheCVASystemisoneofthreeconjointsoftwarepackagesfromSawtoothSoftware,allavailableascomponentswithinSMRT.TheothertwoareACA(AdaptiveConjointAnalysis)andCBC(Choice-BasedConjoint).Wehavedesignedeachpackagetobringuniqueadvantagestodifferentresearchsituations.AboutConjointAnalysisConjointanalysisisusefulforlearninghowpotentialbuyersofaproductorservicevalueitsvariousaspectsorfeatures.Conjointanalysisisequallyusefulforstudyingproductsandservices(forconvenience,weusetheword“product”inbothcases).Examplesofquestionsthatleadmarketresearcherstouseconjointanalysisare:-Whichwouldbemorevaluabletothecustomer:longerwarrantyormoreproductperformance?-Whatwouldbetheeffectofraisingourprice10%?-Whatwouldhappenifweaddedanotherproducttoourlinethathad20%lessperformancebuta30%lowerprice?Whenusingconjointanalysis,aproductisthoughtofasbeingmadeupofvariousattributes(sometimescalled“factors”).Forexample,automobileattributesmaybe:manufacturer,color,typeofengine,numberofdoors,andprice.Eachattributehasseveralpossiblelevels.Forexample,thelevelsof“numberofdoors”maybe:two,four,andfive(toincludestationwagons).Thelevelsof“enginetype”maybe:4cylinder,6cylinder,and8cylinder.(Theword“feature”isoftenusedinplaceof“attributelevel.”)Conjointdataarecollectedfromsurveyrespondentsbyaskingabouttheirpreferencesforhypotheticalproductconcepts,describedintermsofspecificattributesandlevels.Inanalyzingthedata,oneinfersthevaluetoeachrespondentofhavingeachpossibleattributelevel.Theseestimatedvaluesarecalledpartworthsorutilities.CVA’scalculationroutinescanestimateeachrespondent’spartworthutilityvaluesforeachlevelofeachattributefromdatacollectedbytheconjointquestionnaire.Thesevaluesarethenusedtomakepredictionsabouthowrespondentswouldchooseamongnewormodifiedproducts.Thegoalistoconcludewhatproductchangeswouldhavethemostbeneficial(orleastdetrimental)effectonshareofpreference,orwhichwouldmaximizethelikelihoodthatbuyerswouldchoosespecificproducts.2Inconjointanalysis,productconceptscanbeshowntorespondentsoneatatime,ortheycanbepresentedinpairs.Pairwisepresentationcanbeharderfortherespondent,becauseeachquestionrequiresunderstandingtwoconceptsratherthanjustone.However,thecomparativenatureofthepairwisetaskmaylettherespondentmakefinerdistinctionsandcontributemoreinformationthansingleconcept(popularlycalledcardsort)presentation.Thetermfullprofilereferstoproductconceptsthataredescribedwithre...
