Market Research Conjoint Analysis Service

Conjoint Analysis is Statistical Analysis technique used in market research to determine how people value dissimilar features that make up an being product or service. Conjoint Analysis presents conception to respondents. However, instead of giving a single concept for each respondent, each of the respondents is showing too many concepts. The goal of Conjoint Analysis is to determine the alignments of limited number of attributes are the most influential on respondent choice or decision making. A controlled set of potential products or services is shown the respondents and by analyzing how they make preferences between these products, the implicit valuation of the individual elements making up the product or service can be determined. This implicit valuation can be used to create a market models that approximate market share, revenue and even effectiveness of new designs.

Conjoint Analysis is originated in mathematical psychology and was developed by the marketing professor Paul Green at the University of Pennsylvania and Data Chan. Other prominent Conjoint Analysis pioneers are professor V. Srinivasan of Stanford University who developed linear programming procedure for rank ordered data as well as self explicated approach. Today it is used in many of the social sciences and applied sciences including marketing, product management, and operations research. It is used to test frequently the customer who acceptance of new product designs, in assessing the appeal of advertisements and in service design. It has been used in product positioning, but there are some who raise problems with this application of Conjoint Analysis.

Conjoint Analysis techniques may also be referred as multi-attribute compositional modelling, isolated choice modelling, or stated preference research, and is part of broader set of trade off analysis tools used for systematic analysis of decisions. These tools are includes Brand Price Trade Off, Simalto, and mathematical approaches such as evolutionary algorithms or Rule Developing Experimentation.

Data for Conjoint Analysis is the most commonly gathered information through market research survey, although Conjoint Analysis can also be applied to carefully designed configuration or data from an correctly design test market research. Market research rules of thumb apply with regard to statistical sample size and accuracy when scheming Conjoint Analysis interviews.

The length of research survey depends on the number of attributes to be assessed and the method of Conjoint Analysis in use. The typical Adaptive Conjoint survey with 20-25 attributes may take more than 30 minutes to complete. Choice based conjoint, by using a smaller summary set circulated across the sample for entire steps completed in less than 15 minutes. Choice exercises may be displayed as store front type layout or in the some other replicated shopping environment.

Conjoint Analysis services from Informatics Outsourcing

• For each action, respondents are required to make hypothetical trade-offs between products.
• Each respondent is forced to make trade-offs between product features, much as consumers are forced to do when they are actually shopping.
• Each respondent answers a series of questions; in each question the combination of features shown together changes. In this way, a large number of product features can be estimated.

Offshore Quantitative Market Research Service

Market Research is any organized effort to gather information about markets or customers. It is very important component of business strategy. The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets. Market Research is a key factor to get advantage over competitors. 

Market Research provides important information to identify and analyze the market need, market size and competition. Informatics Outsourcing is a full service research organization offering a comprehensive range of information gathering and analysis capabilities. Informatics Outsourcing has close to 10 years experience in the conduct of marketing research programs. At Informatics Outsourcing you will find a team of research professionals who are focused and committed to ensuring that the most pertinent, reliable, easy to interpret and actionable information is generated and delivered to all their clients. Informatics Outsourcing is one of the best networked marketing research companies in the World with a well trained and experienced team. 

A good marketing research consists of much more than just conducting interviews with interested individuals. When you work with Informatics Outsourcing you are working with one of the most experienced full service marketing research companies. Informatics Outsourcing customizes each research project to clients need. At Informatics Outsourcing, we are always ready to help our clients explore new opportunities, find solutions to marketing problems, learn more about prevailing market conditions, link with their customers, suppliers and other key business affiliates.

Our Quantitative Market Research services include,

1. Market Research processes

•           Data Collection
•           Survey
•           Focus Group
•           CATI
•           Market Research data processing
•           Data Cleansing

2. Statistical Market Research services

•           Data Analysis
•           Statistical Modeling
•           Charting
•           Factor and Cluster Analysis
•           Conjoint Analysis
•           Regression Analysis
•           Report Generation
•           Insight Generation
•           Forecasting Analysis
•           Significance Testing

Best way to write a Market Research Report Writing

After done your Market Research work, you have to write a report. However, the best research can get put aside without being read. Following are the few tips for writing a good Market Research Report Writing

The first thing is to get your reader's attention with powerful headline and good opening summary of the report. If you fail to get the prospects attention, you will fail to communicate and deliver the benefits of research.

The trick is writing a Market Research Report Writing that will catch the reader's attention without allowing his or her mind to wander even for a second. Otherwise: Making a copy mistake that turns her or him off entirely - and gets your research report immediately tossed into the nearest virtual or literal trash can.

But take care, in long research reports - the headline and opening summary represent only about four percent of total volume of the report copy required. There is lot of pages where you can lose your reader's attention. Lose him, even for divide second, and you have probably lost him - and your promotion - for good….

Avoid the following three unforgivable sins when writing your research report:

1) Do not confuse your reader

2) Do not bore your reader

3) Do not set off his BS detector

By following the seven simple rules below produce a good top quality Market Research Report Writing:

Rule 1: Keep Your Report Logically Organized.

When reading or learning, humans are generally require that the material to be presented in a clear, logical way. That generally means starting at point "A" ... progressing to point "B" ... moving on to point "C" ... and so on, until you have reached your quality conclusion.

Rule 2: Keep the Report Moving.

Reader's eyes first fall upon your report; a little stopwatch starts ticking in his head. If at any point, they will feel you are not moving along quickly enough, you will lose them.

Rule 3: Keep Your Report Simple.

Never ask your prospect to work in order to figure out what you are saying. Try to limit yourself to one complete, clearly presented thought per sentence. When you connect two thoughts in a sentence, make sure they connect directly and clearly with each other. Also avoid inserting undeveloped or underdeveloped thoughts in sentences or paragraphs.

Rule 4: Keep the Report Fat-Free.

Readers should feel as though they are getting good value in return for the number of words they are made to read.

Rule 5: Keep Your Report Believable.

Your reader is already skeptical. Making grandiose claims that you cannot prove beyond the shadow of doubt will only confirm what he or she already suspects: That you are full of beans. And this will get your promotion trashed in heartbeat.

Rule 6: Keep Your Report Potent.

One of the fastest ways to lose your prospect's attention is to fail to focus on his favorite subject: HE or SHE the word is "You" has been called the most powerful word in the English language - and for good reason. Finding ways to personalize the report - applying each passage as if had been written for the reader is key to keeping his attention.

Rule 7: Avoid Unintended Impressions.

Where friends read your report can pay huge dividends. By the time you are ready to stick a fork in your new promotion, you can almost recount it word for word - frontwards and backwards. That means you are too close to the report to catch things that may be misread, even things that may raise objections or implant an erroneous impression in your reader's mind.