Simple conjoint analysis example by Conjoint.ly

	B	C	D
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2	A simple conjoint analysis example in Google Sheets
3	Prepared for educational purposes by Conjoint.ly on 1 October 2019.
4	Available from:	https://conjoint.online/2019/10/01/simple-conjoint-analysis-example-excel/

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6	Conjoint analysis (also called trade-off analysis) is used in many social sciences and disciplines, including marketing, product management, and pricing. In this post, we provide a conjoint analysis example in Google Sheets (also available as an Excel conjoint example). This example will show:
7	1. Inputs into a conjoint study
8	2. Conjoint questions (a.k.a. experimental design)
9	3. Calculations of partworth utilities (relative preferences and importance scores of attributes)
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11	This example is limited to:
12	✔ Ten choice-based responses (even though in market research, we collect ~12 choices from 100 to 2,000 respondents);
13	✔ Four attributes with two levels each (even though in practice, we can have up to a dozen attributes and up to several dozen levels);
14	✔ A multiple linear regression (even though real conjoint tests we use hierarchical bayesian multinomial logit)
15	✔ A fractional factorial design.
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18	1. Inputs
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20	Imagine we are evaluating feature of cow's milk sold through supermarkets with the following features:
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22		0	1
23	Brand:	Supermarket brand	Farm Gate™
24	Pack format:	Carton	Bottle
25	Fat content:	2%	3%
26	Price per litre:	$2.05	$2.55
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28	↑	↑
29	These are called "attributes".	These are called "levels" of attributes.
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31	In this example, we have 4 attributes with 2 levels each. However, commonly, we do research on more more levels and attributes.
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