Why conjoint in healthcare market research?
Pharmaceutical manufacturers need deeper and deeper market information they can rely on to make the right decisions and to identify the most promising market opportunities. They can obtain great benefits from understanding physicians’ prescription preferences and opinions, as these are the key people in prescribing medical treatments. Consequently, conjoint analysis research projects might represent a remarkable help for pharmaceutical companies during the development of new drugs, and if properly conducted they might even allow the estimation of product sale and market share. Conjoint analysis is a multivariate statistical technique based on the study of the joint effects on consumers of the elements that compose a product or service; it allows eliciting the relative importance of such elements. Therefore, by an additive model, it allows the estimation of the total utility of different profiles or combinations of attributes, and consequently, it allows the identification of the optima
