Applied Marketing Science is tops for conjoint. Their knowledge of conjoint and its real-world applications are second to none.
Ask a consumer which product 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—or discrete choice analysis—overcomes these problems. Rather than directly asking consumers what’s most important to them or how much they’ll pay, a conjoint survey presents them with a series of competing but appealing offers in a carefully designed experiment. By examining the choices people make, conjoint reveals the features that really are the most important to them and the true price they’re willing to pay. As a result, conjoint analysis is a more accurate predictor of how people actually behave than other methods, such as asking people directly about how important a feature is and how much they’ll pay.
Conjoint surveys answer many important questions critical to innovation and product pricing strategy:
- What features should you include in a new or existing product?
- What is the optimal price you should charge for your product?
- What is the estimated market share for your product at a given price?
- How many consumers will you gain or lose by introducing or changing a product?
- How much will people pay for a product feature?
The AMS Difference
Our approach to conjoint rests upon groundbreaking academic research conducted by Applied Marketing Science (AMS) 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 our conjoint studies. We conduct conjoint analysis on products ranging from everyday household consumer items to more complex and technical products, such as power tools.
The End Result
Our reports go beyond just delivering data. We interpret the findings, telling you the features that will perform best in your market and how much consumers will pay for them.
Product features and pricing are too important for you to get wrong. Conducting conjoint analysis with us ensures you get them right.
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