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Assess the relative value of the brand through outputted elasticity charts, revenue, and profitability projections. The result is a ranking of preference relating brand to price that individuals are willing to pay. Build models across a market as a whole showing likely take up of different brands at different prices, together with estimates of revenue and profitability.
What are consumers willing to pay for your product? To find out, you need to know how they perceive each different price point, and how this demand changes across a range of price points. Use this data to choose the most profitable price for your product.
You must understand how increasing or decreasing pricing will affect demand for your product to determine its profitability. Test if discounts or promotional efforts will encourage consumers to buy your product. Learn how tiered pricing offerings will affect your product or service’s profitability.
How can you optimise pricing across a range of your products? Use market simulation to identify the optimal price to charge consumers under various scenarios. Identify the price that maximises market share, profit, and revenue through market simulations.
Focus on market dynamics rather than understanding the feature and price trade-offs. The market simulator can identify the price that can maximise share and also reveal the price at which revenue and even profit can be maximised. This is one of the greatest advantages of using conjoint analysis in pricing research.
You get agency-quality results at a fraction of the cost and time investment. One powerful end-to-end platform for insights teams for fast and reliable market research.
Our methods are thoroughly tested and rooted in marketing science.
Design your pricing study with our intuitive interface for fully automated experiments
Let Conjoint.ly collect data for you, checking for the quality of responses.
Conjoint.ly will automatically analyse the data and prepare online and Excel reports.
Do you need support in running a pricing or product study? We can help you with agile consumer research and conjoint analysis.
Book a quick call today to talk with the team who specialise in product and pricing research.