How to Get It Right with CBC

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When you decide to use the choice based conjoint
survey model, there are quite a number of
features that you can joke around with. You want
a situation where you have as much flexibility as
you can so you can be able to create a
tailor-made study that will exactly suit your
individual needs when this is the case it can be
very easy to make mistakes that may end up
invalidating your results. The good news is that
you can follow some simple tips so you can retain
the best chances of creating a successful CBC
conjoint.
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Limit the number of attributes It is an open
secret that there are a number of features that
differ among your products and those of the
competition try and narrow down the list so you
remain with only the most relevant. The main
problem with having too many elements in a survey
is that it makes it more difficult for
respondents to clearly identify what is more
important. In addition to that, too many
attributes in your CBC will make the survey
unnecessarily harder and could lead to fatigue
among your targeted participants which is not
very good news. You want to make sure that the
selected attributes are fully independent of each
other or you could end up with incorrectly
interpreted data.
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Choose realistic levels The levels of your
selected attributes must be in such a way that
they will make sense for your particular industry
as well as the demographic that you are
targeting. The greatest challenge you are going
to face when you set inappropriate levels during
you choice based conjoint survey, for example a
higher price, is that you could easily end up
with the most fascinating and curious findings
but will unfortunately end up being totally
useless from a marketing research perspective.
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Spend the time to do it right Conducting a
choice based conjoint survey dictates that you
are going to deal with such a large number of
variables and considerations this means that you
need to spend your resources and conduct a
thorough survey. If possible, you may want to
employ an iterative process that allows you to
add several other attributes and levels from
which you can whittle down after every step to
make them smaller and more manageable until you
become completely satisfied.
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This means therefore that you will use any
information you may have received in a previous
marketing survey as a way of informing your
current ongoing conjoint analysis. You should
therefore be able to create a number of
preliminary surveys that will help you be able to
gauge the best levels you are going to employ in
the real CBC conjoint this is the only way your
CBC will pay off.
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