Conjoint & Price Elasticity
Give them what they want, that makes you the most
Offering a product at the right, strategic price can garner highest sales at the greatest financial gain for your company. Conjoint analysis is considered the best tactic to determine feature set trade-offs because of its ability to present products as closely to how consumers would see them in the market with various choices and price levels. Price elasticity determines what market share you can expect at varying price points, as well as when you reach the point of diminishing return.
Our research design team that works with our clients to determine the features and pricing to be tested are also the ones who program the survey into the Sawtooth Conjoint platform. This affords our clients a team that not only understands how conjoint functions, but can work with them to understand their needs coupled with the tools’ capabilities, limitations, and output options. Furthermore, we run multiple price elasticity methods on products that do not require feature builds, which result in identifying market share at any price point the client would like to consider so they can run scenarios to determine which would most positively impact the bottom-line.
Research Methods Utilized:
Central Location Tests (CLT), Online, Telephone, Intercept.