Simulating the Market

  • Market simulators are an essential tool to assess how various attributes interact in a competitive situation and to simulate a variety of scenarios.
  • Simulators allow running ‘what if’ analyses and the main output shows preference shares for the market players.
  • Simulators allow projecting shares given the estimated utility values coming out from the conjoint exercise, while taking into account all relevant market players and their features.
  • Simulators are not a nice-to-have feature, they are a must for any conjoint study. They go beyond what basic results can tell and provide a far more comprehensive picture.
  • Simulators results have immediate impact for the management because of their actionability.

 

Typical Features of a Simulator

  • Key drivers: impact of attributes on preference or share (relative importance scores).
  • Preference for each attribute feature (part-worth utilities).
  • Analysis by respondents’ segments defined based on conjoint results (segmentation of conjoint data).
  • Market simulation and “what if” analysis:
    • assessment of optimal product profile or profiles / product characteristics that should be prioritised;
    • effects of changes in the product concept;
    • price-elasticity / sensitivity analysis;
    • results expressed in terms of preference or preference shares;
    • impact on share of market players: depending on the conjoint framework adopted, all market players or only the key ones are simulated.
  • Results are available for any significant demographic or geographical respondents group.

R-sw Conjoint is a R-sw module developed for Advanced Conjoint Analysis. It is the only commercial software that allows analyzing Rank-Based and Allocation-Based Conjoint data. It also allows analysis of Choice-Based Conjoint data.

Moreover, R-sw Conjoint is the only commercial software that comes with fully-customizable Excel simulators for conjoint data. And if that is not enough, there are two different types of simulators, to address different research needs!