When you simply ask your consumers what is more important to them about your product you are more likely to end up with a list of their hidden biases as opposed to any valuable marketing information. For instance, when asked whether environmental friendliness is important to them whenever they are buying an electronic product, your guess is as good as mine that most people will respond with a yes because everyone considers themselves as eco-friendly. However, it may not be exactly clear how much eco-friendliness actually influences the consumer’s buying decision and, as such, the answer may not be so clear cut. When you include environmental friendliness as one of the attributes among others when you are doing a choice based conjoint survey you will most likely come up with more credible data.
The other advantage of using CBC conjoint is that it can glean into the actual pertinent considerations such as what features and attributes a consumer considers when they are buying different products in the real world. Once you have received come credible data, you will be able to take the most effective action after you discover what features consumers are willing to trade so as to get the product specifications they truly prefer. A choice based conjoint survey gives you better results than using any other market research methods that ask straight questions expecting straight credible answers.
When doing a conjoint analysis you will almost always have at least two levels for every single attribute; this usually enables you to discover to what extent people value the higher and lower values for the different attributes. For instance, when it comes to warranty, a well conducted CBC conjoint could unearth facts such as consumers who may prefer something like a 4-year warranty than none at all but who at the same time will still be okay with a 10 year warranty. The knowledge you get from CBC enables you to know where to devote your resources so they will create a huge impact with regards to sales and customer satisfaction. Put another way, the CBC conjoint imitates the natural mental process.