What is a MaxDiff exercise?

What is a MaxDiff exercise?

The MaxDiff Exercise is widely used in the Market Research Industry. This exercise presents a number of attributes on a screen and asks the respondent to select the one he/she likes most and the one he/she likes the least.

How many sets are in MaxDiff?

You can display up to fifty sets (50) or display all attributes inside one set. The more sets you show, the more times individual features will be compared against one another.

What is a MaxDiff analysis?

Definition: MaxDiff analysis, also known as the best-worst scaling is an analytic approach used to gauge survey respondents preference score for different items. Researchers ask the respondents to pick the most and least important factors in given answer options.

What is anchored MaxDiff?

Anchored MaxDiff lets the researcher draw a line (a utility boundary) between important and unimportant items (positive vs. negative impact, buy or no-buy, etc.). That utility boundary, for example, could be set at 0.

What is MaxDiff qualtrics?

MaxDiff analysis leverages our innate ability to identify the best and worst from a list and provides a rank-ordered list of preferences. MaxDiff analysis is particularly useful when you want to: Identify clusters of your market that have similar preferences and priorities.

What is the difference between MaxDiff and conjoint?

What is the difference between MaxDiff and conjoint analysis? MaxDiff, also known as best-worst scaling, is an approach for obtaining preference/importance scores for multiple items. In conjoint analysis, we add more dimensions to the experiment, describing the product/ service with multiple attributes.

How do I do a MaxDiff analysis in Excel?

XLSTAT allows you to create sets of attributes to be compared by the respondents. A design of experiments method is used. Once XLSTAT is started, click on the CJT icon and choose the Designs for MaxDiff analysis feature. Once the button is clicked, the dialog box appears.

Is MaxDiff a discrete choice?

The Use of Discrete Choice Experiments and MaxDiff (Best-Worst) Scaling. A discrete choice experiment (DCE) is a method for evaluating the influences on consumer decisions and behaviour. Cam Rungie’s research examines methods for analyzing decisions made by consumers.

How do you ask a MaxDiff question?

Standard Report. We have improved the reporting of the Max Diff question in the Standard Report! It’s much easier to understand and allows for more visibility into how items were ranked. For each attribute you will see the percentage of times it was ranked as most appealing, least appealing, or not chosen.

What is difference between MaxDiff and conjoint?

MaxDiff is roughly comparable to a one-attribute, multi-level Choice-Based Conjoint (CBC) exercise. The biggest difference between conjoint analysis and MaxDiff is that in conjoint analysis, the rating or choice of a concept is based on the SUM TOTAL of its components (the items conjoined).