Conjoint Analysis & MaxDiff | Health & Pharmaceutical Market Research | MD Analytics Inc.

Key Strengths

  • Choice-Based Conjoint
  • MaxDiff
  • Adaptive Choice-Based Conjoint
  • Anchored MaxDiff
  • Menu-Based Conjoint
  • Latent Class Segmentation in MaxDiff

MD Analytics offers advanced capabilities in designing discrete choice experiments using Conjoint Analysis and MaxDiff in healthcare and pharmaceutical marketing research.

Among our favorite methodologies is Adaptive Choice-Based Conjoint, see below for our reasons why. To learn more about our experience with MaxDiff, read this article on Improved Capabilities with MaxDiff Exercises that we recently wrote about.

Choice-Based Conjoint (CBC) Analysis

While conducting derived driver analyses (such as regression) can be helpful to determine the impact of drug-related attributes, one of the most accurate ways to assess attribute importance is to use a choice-based conjoint analysis (CBC). CBC is a trade-off analysis used to measure the perceived values/preferences of specific product attributes and to assess the demand for a particular product in light of its various attributes. It is often used to forecast what the likely acceptance of a product would be and resulting impact on market share preference. It is one of the most reliable driver analyses available, for the following reasons:

  • It forces respondents to make trade-offs in their consideration set, which better reflects how decisions are made in a real-life setting, and helps determine what physicians truly value; and
  • It removes the bias inherently present in Likert rating scales.

Adaptive-CBC is another version of choice-based conjoint analysis that allows the user to obtain reliable results even with the smallest sample sizes, thanks to the adaptive questionnaire design and a statistical model called Hierarchical Bayes. In an adaptive-CBC study, the respondents goes through an additional step of developing their preferred drug profile, by choosing their optimal configuration of attributes and levels. They are then provided with an initial set of potential product concepts to screen for “must have” and “unacceptable” attributes. The software then uses this information to build a series of relevant product profiles for use in the conjoint exercise.

The unique “choose your own adventure” style of approach, helps to reduce the overall number of infinite possibilities while providing more data points than otherwise available from CBC alone, thereby contributing to its ability to provide more powerful results from small sample sizes.

Presenting the Results

  • The analysis yields a hierarchy of attributes in terms of how important they are in driving treatment selection. It also shows the relative importance of each level within each attribute.
  • Conjoint data can also be utilized for perceptual maps or for the creation of preference-based segments, which would determine if a section of the market is currently untapped.
  • Conjoint also comes with a Market Simulator, an interactive online tool that predicts changes in physicians’ share of preference based on the attribute characteristics of each product. This tool can be extremely useful for helping to determine the potential impact of a new product, or a switch to a different messaging strategy.

By continuing to browse or by clicking “Accept” you agree to the storing of first- and third-party cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
Cookie Policy | Privacy Policy

Privacy Preference Center


Your Privacy

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences, your device or used to make the site work as you expect it to. The information does not usually identify you directly, but it can give you a more personalized web experience. You can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, you should know that blocking some types of cookies may impact your experience on the site and the services we are able to offer.


Essential cookies

These cookies are essential for websites and their features to work properly. Without these cookies, services such as the vehicle configurator may be disabled.

Cookies used

  • WordPress Required

Performance Cookies

These cookies collect information about how you use websites. Performance cookies help us, for example, to identify especially popular areas of our website. In this way, we can adapt the content of our websites more specifically to your needs and thereby improve what we offer you. These cookies do not collect personal data. Further details on how the information is collected and analyzed can be found in the section ‘Analysis of usage data’.

Cookies used

Third-party cookies

These cookies are installed by third parties, e.g. social networks. Their main purpose is to integrate social media content on our site, such as social plugins.

Cookies used