The ability to transmit and process voice over Internet protocol (VoIP) networks has important implications for technology managers. Many companies today are rushing to bring different VoIP products to market with a wide variety of features. Managers will need to understand the tradeoffs associated with VoIP as compared to the Public Switched Telephone Network (PSTN). This paper measures the preference structures between IP telephony and PSTN services using conjoint analysis. The purpose is to suggest those VoIP technology attributes that best meet users’ needs.