Conjoint analysis provides insight into what drives the purchase decision - the brand, price, or other product attributes.

Conjoint analysis is an efficient quantitative methodology that enables companies to forecast price elasticity of demand and sales potential. Conjoint analysis is the best way to determine (and simulate) the purchase likelihood and estimate volumetrics for competing products under a wide variety of pricing scenarios. For situations in which you need to determine which combination of packaging options, names, benefit statements and price will result in maximum market acceptance, conjoint analysis is a "best practice" technique.

Conjoint analysis is designed to elicit information on purchase decision in a hypothetical, yet realistic, purchase setting. Respondents are given a series of choices among hypothetical products and choose the product they would be most likely to purchase - or they may choose no product at all.

By analyzing the data, the relative significance of product attributes and critical price points that affect purchase likelihood are identified.