This paper describes an innovative aspect of an ongoing research project to develop a virtual reality based conjoint analysis system. Conjoint analysis involves the use of designed hypothetical choice situations to measure subjects'preferences and predict their choice in new situations. Conjoint experiments involve the design and analysis of hypothetical decision tasks. Hypothetical alternatives, called product profiles, are generated and presented to subjects. A virtual reality presentation format has been used to represent these profiles. A profile consists of a virtual environment model and dynamic virtual objects representing the attributes with their respective levels. Conventional conjoint choice models are traditionally based on preference or choice data, not on dynamic decision making aspects. The status of this new approach will be described.