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Conjoint Analysis tool based on GWO

Submitted by: scrollinondubs
Created: May 6, 2007, 7:22 pm

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The Idea

Conjoint Analysis is a statistical technique used by researchers for testing the desirability of different features when designing new products. It's similar to multivariate analysis in the world of marketing tests. Google Web Optimizer is now in public beta and is a do-it-yourself method for conducting multivariate tests via web pages.

There is an opportunity to create a site that allows companies to conduct conjoint analysis of future products soliciting the input of their customers. In the same way that GWO allows you to tease apart the factors that make a landing page effective (headline, copy, graphic, call to action) this tool would allow companies to identify the features that have the most positive impact on product acceptance.

Enterprises hire market research firms to conduct this type of analysis but this could be a DIY solution for small/medium businesses to get valuable input from their customers. They would pay a subscription fee to be able to conduct the trials.

I thought of this idea when I was...

I used the GWO tool on our JumpBox site to refine the messaging on our homepage and we were able to double our conversions -> http://www.scrollino...oogle-web-optimizer/
I just completed a training course this weekend in which we discussed conjoint analysis. It seemed very similar to the concept of multivariate analysis in the marketing world. After reading more about it, it seems that one could conduct conjoint analysis on the web with photos of products separating out the different features using a multivariate testing tool like Google's. They've already put together the engine for serving and analyzing the data, it would merely be a matter of wrapping with an application for signing up companies and testers.

Comments Posted

AdvocatusDiaboli Posted: May 6, 2007, 8:14 pm

Isn't conjoint analysis used mostly for products? Being that how can a research be done via the Internet, where the user can't touch, play, look at the product being developed?

AndyDoan Posted: May 6, 2007, 9:44 pm

Could you dumb it down a shade and bring it home for us simple folk?

AndyDoan Posted: May 6, 2007, 9:45 pm

So this is like a market test site that people can pay to have their web properties tested on? Where do the testers come from?

Kempton Posted: May 7, 2007, 1:49 pm

I echo Andy's comment. We have a much better chance to understand the thing if it is explained in plain English.

ByondByond Posted: May 7, 2007, 2:18 pm

over my designer head

scrollinondubs Posted: May 7, 2007, 7:03 pm

my bad, apparently this was unclear- it's a site where you can market test products by displaying them to people and seeing how they interact with them. Display different versions of the same product and see which ones users gravitate towards.

@advocatus- yes you are right conjoint analysis is for products. I guess my idea description w/ the GWO reference makes this confusing- it's a web-based conjoint analysis using photos. here's an example: let's say you're testing a new coffee maker product you're planning to offer- you want to gauge how the following features affect it's acceptance:
-digital vs. analog clock
-color of the unit- black or grey
-insulated plastic handle vs. stainless steel

using the GWO multivariate testing tools you can serve different pictures that categorize on these dimensions and gauge the responses of the people that participate to tease apart which features are important to people. The service would essentially be a big online playground for people that wanted to come and test out new products. Incentive for those folks would be some type of giveaway based on participation or raffle. Companies would get access to essentially a "mock jury" for providing input and shaping their proposed new product lines.

does that clarify the vision at all?

Hello!

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