Choice-based Conjoint (CBC)

Choice-based Conjoint, also known as Discrete Choice Modeling (DCM), looks at choices instead of ratings or rankings (CVA and ACA), which is considered to be more life like. It requires research participants to make a series of trade-offs by indicating their preferences within a controlled set of potential products or services. Analysis of these trade-offs will reveal the implicit valuation of individual elements making up the product or service - e.g. brand, package, price. 

CBC: benefits & limitations

• Is able to deal with interactions
• A 'none' option or (multiple) 'constant alternatives' can be included
• It is possible to include product- or alternative-specific attributes
• Full profile (showing all attributes) is a more realistic representation of the 'real' world

• Low ratio of information gained per respondent effort/ task
• Sample sizes needed slightly larger than with ACA

CBC: when to use it?

• For consumer products: to optimize product development or portfolio price strategy
• In consumer health: to define and optimize product potential or price strategy
• For financial service providers: to optimize product/portfolio configurations
• In telecom industries: to optimize your products or product bundles