Choice-Based Conjoint Analysis (CBC) is used to measure preferences (e.g. attribute importance), and the willingness to pay for products and services. CBC asks participants to make trade-off decisions between different products in a competitive environment. These trade-off decisions can then be used to find out how purchase likelihood is influenced by various product attributes, such as brand, price, or technical attributes (e.g. a smartphone's battery life).
Benefits of quantilope's CBC:
In this scenario, the optimal price for the energy drink AMP is $1.39, where the purchase probability is highest at 15%.
Between a can, glass bottle, and plastic bottle, consumers are willing to pay more for a glass bottle when purchasing an energy drink.
Product price (42%) and brand (33%) have the greatest impact, accounting for 75% of a consumers purchase decision of energy drinks.