conjoint analysis
DESCRIPTION
Optimize product features and pricing for your product.TRANSCRIPT
CONJOINT ANALYSIS
CONJOINT ANALYSIS helps answer three critical questions that all marketers and product managers encounter:
�� How do buyers make trade-offs between competing products and features?
�� What is the best pricing for a product given the presence or absence of specific features?
�� What market share and shift will result when a new product is introduced?
At Applied Marketing Science (AMS), our research team has conducted conjoint analyses for more than twenty years. Our approach rests upon groundbreaking academic research, tested in the real world where multimillion-dollar business decisions are on the line. Our techniques have even been used in cases before the U.S. Supreme Court and have survived critiques by Nobel Prize winners. Our clients range from newcomers to conjoint analysis to long-time veterans of the technique.
WHAT IS CONJOINT ANALYSIS?No product can give customers every feature they want at a competitive price, and no customer wants every feature equally. Customers make trade-offs among features and prices based on their preferences and needs.
It is a common market research practice to collect customer-stated preferences for features, along with the price they say they would be willing to pay. Yet experience shows that, time and again, customers are notoriously unreliable when asked what they would be willing to pay.
Conjoint analysis overcomes this problem by asking customers to choose among competing, attractive offers in a carefully designed experiment. Conjoint analysis helps our clients determine:
�� Which features deliver the most value to customers and command the highest price
�� The take rate for a product at a given price
�� The potential market share and shift for a new product
Add precision to your pricing. Contact us today.
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”Paul Green,Marketing Professor and
“Father of Conjoint Analysis”
303 WYMAN STREETWALTHAM, MA 02451(781) 250.6300 p(781) 684.0075 [email protected]
If you ask customers what features they want, they’ll say they want everything. But in the real world, customers are forced to make trade-offs.