According to Crawford and Benedetto (2011), a product can be seen as a set of attributes. This entails that a product can be explained by citing its attributes. There are three kinds of attributes:
- Features: what the product consists of
- Functions: what the product does and how it works
- Benefits: the way a product provides satisfaction to the user
The conjoint analysis is a marketing tool, used in product repositioning and new product development applications (Wittink & Cattin, 1990). Conjoint Analysis estimates the customer’s preference into a set of different attributes (Green & Srinivasan, 1990).
Continue your reading if you like to know more about the conjoint analysis, and/or watch the video to get to know this powerful tool