Glossary Of Terms

Conjoint analysis glossary

Why Conjoint Analysis Matters in B2B: Construction and Industrial Markets

In construction and industrial markets, buyers weigh multiple factors: features, quality, reliability, service, and total ownership costs. Traditional surveys struggle with this complexity. Conjoint analysis reveals which features drive choice, how customers value guarantees and service proximity, price sensitivity across segments, and winning product configurations.

For OEMs and dealers, conjoint connects customer reality with decisions on specification, pricing, and strategy.

What is Conjoint Analysis?

A method that measures how people make trade-offs between product features, price, and benefits.

What is Conjoint Analysis in B2B?

An approach that captures how business buyers evaluate complex equipment, services, and configurations.

What is a Conjoint Attribute?

A feature being tested, such as horsepower, warranty, or uptime guarantee.

What is a Conjoint Level?

The specific options within an attribute.

What is a Choice Task?

A screen where respondents pick between alternatives.

CBC (Choice-Based Conjoint)

The most common conjoint format using realistic choices.

MaxDiff

A method to identify most/least important items.

Utilities Estimation

Calculates numerical values representing preference.

Part-Worth Utility

The score assigned to each level of an attribute.

Attribute Importance

Shows which features drive decisions the most.

Market Share Simulation

Predicts choice outcomes in a competitive market.

Market Sizing in Conjoint

Uses conjoint outputs to estimate demand.

Scenario Simulation

Tests what-if product or pricing scenarios.

Price Sensitivity

Shows how price affects likelihood of purchase.

Willingness-to-Pay (WTP)

Dollar amount buyers will pay for certain features.