SIMALTO (Simultaneous Multi-Attribute Level Trade-Off) is a robust, unambiguous choice-modelling tool, developed to overcome the limitations of traditional approaches to multi-attribute product market research - chiefly that the customer can select features in an unrestrained environment.
Why is this important? As economic decision-makers tighten the screws, clinicians are becoming increasingly budget-conscious. Now more than ever, they are tasked to articulate the perceived value as they advocate for new devices or systems. SIMALTO treats price as a constraint and recognises that benefits often do cost different amounts. Because the design gives full exposure to all the attributes and features, the methodology allows for significantly smaller samples, a greater number of attributes and data is analysed at the respondent level – there is no averaging of preference of values.
In this webcast our research experts, Sabera Hyderally and Kristin Lovallo, consider the practical benefits of SIMALTO and share a case study with a demo of a survey.
What are the key takeaways?
- Learn how to overcome the limitations of traditional approaches to multi-attribute product market research
- Identify how to conduct trade-off research, which mimics real-life decision-making behaviour
- Understand how to identify the minimum customer requirements in a new product or service