Applied Marketing Science is tops for conjoint. Their knowledge of conjoint and its real-world applications are second to none.
Ask one of your customers which features are most important, and they’re likely to say “everything.” Ask them how much they’d pay for a new product, and they’ll give you a low price, much lower than what they’d really pay.
Conjoint analysis overcomes these problems. Rather than directly asking customers what is important or how much they will pay, conjoint analysis presents people with a series of competing, attractive offers in a carefully designed experiment. The trade-offs people make when choosing among the offers reveals the features that are most important and the prices they will pay. Conjoint analysis is a more accurate predictor of actual behavior in the marketplace than other methods, such as asking for importance or willingness to pay.
Using conjoint, AMS helps you find the right answers to critical new product development and product pricing strategy questions:
- What features should you include in a new or existing product to create the most customer value?
- How much more will customers pay for better performance on key product attributes?
- How should you price a product or service to optimize sales volume for maximum profit?
- What market share could you expect for your product at a given price?
- How many customers will you gain or lose by introducing or changing a product?
The AMS Difference
Our approach to choice based conjoint rests upon groundbreaking academic research conducted by Applied Marketing Science staff and tested in the real world—where multimillion-dollar decisions are at stake and errors are irreversible. We bring this expertise and attention to detail to all of the conjoint studies we conduct.
AMS experts will design your conjoint study to support your most critical product decisions, relying on years of accumulated knowledge applying conjoint market research in business and professional markets on everything from engineered components to complex medical devices and agricultural equipment.
The End Result
Our reports go beyond simply delivering data: we also interpret it, so you know which combination of features and price will perform best in your market. We also deliver an easy-to-use conjoint simulator, or discrete choice model, which lets you test, right from your desktop, dozens of scenarios with different features and prices.
Product features and pricing are too important for you to get wrong. Conducting conjoint analysis with AMS will ensure you get them right.
Speak with one of our expert conjoint consultants today to learn more.Contact Us
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