More than 70% of all newly launched products for daily life flop after their introduction. Early price and product research not only significantly reduces the risk of failure, but also ensures maximum success by optimally aligning your portfolio strategy with your customers’ needs and willingness to pay.
More than 70% of all newly launched products for daily life flop after their introduction. Early price and product research not only significantly reduces the risk of failure, but also ensures maximum success by optimally aligning your portfolio strategy with your customers’ needs and willingness to pay.
What does an optimal product look like from your customer’s point of view? How do you choose the right price points to optimize your sales?
Companies are often very much oriented towards their own capabilities and cost structures when developing products. They often determine prices on the basis of production costs, contribution margins or desired margins. However, much more decisive for the economic success of products and services is the expectation of customers, the benefit of dedicated product features and the actual willingness to pay of potential buyers. These dimensions often do not coincide with intrinsically motivated product developments or cost-based pricing. In order to make the right product and pricing decisions, we examine your potential customers in detail. We work with you to develop the right approach based on qualitative and quantitative methods. On the basis of the analyses, we generate robust findings on consumer preferences and the benefits of individual features of the products or services. This enables us to simulate realistic decisions and forecast market sales potential.
Direct queries concerning price assessments, such as the Van Westendorp price sensitivity measurement, or in terms of purchase probabilities, such as Gabor-Granger, quickly provide well-interpretable results for established products and services. Through these methods, a very strong framework can be determined to guide pricing. With which price do you maximize your turnover or market share? What price is appropriate for launching a new product?
For innovative services and products we recommend the Choice-Based-Conjoint Analysis. The realistic assessment of the attractiveness of entire products allows you an indirect measurement of price sensitivity at the level of individual product features. In addition, demand simulations including consideration of the competition can be carried out. The extensive analysis of your product portfolio thus enables the optimal alignment of your pricing strategy with the needs and developments of the market in order to ensure your continuous success.
Companies are often very much oriented towards their own capabilities and cost structures when developing products. They often determine prices on the basis of production costs, contribution margins or desired margins. However, much more decisive for the economic success of products and services is the expectation of customers, the benefit of dedicated product features and the actual willingness to pay of potential buyers. These dimensions often do not coincide with intrinsically motivated product developments or cost-based pricing. In order to make the right product and pricing decisions, we examine your potential customers in detail. We work with you to develop the right approach based on qualitative and quantitative methods. On the basis of the analyses, we generate robust findings on consumer preferences and the benefits of individual features of the products or services. This enables us to simulate realistic decisions and forecast market sales potential.
Direct queries concerning price assessments, such as the Van Westendorp price sensitivity measurement, or in terms of purchase probabilities, such as Gabor-Granger, quickly provide well-interpretable results for established products and services. Through these methods, a very strong framework can be determined to guide pricing. With which price do you maximize your turnover or market share? What price is appropriate for launching a new product?
For innovative services and products we recommend the Choice-Based-Conjoint Analysis. The realistic assessment of the attractiveness of entire products allows you an indirect measurement of price sensitivity at the level of individual product features. In addition, demand simulations including consideration of the competition can be carried out. The extensive analysis of your product portfolio thus enables the optimal alignment of your pricing strategy with the needs and developments of the market in order to ensure your continuous success.
Using a combination of diverse multivariate methods (e.g., factor, cluster and latent class analysis) as well as qualitative research methods (e.g., expert interviews, in-depth interviews, group discussions, workshops), we examine your (potential) customers in detail. As a result, you receive a data-supported description of the target groups as well as recommendations for action for an optimal approach.
Using a combination of diverse multivariate methods (e.g., factor, cluster and latent class analysis) as well as qualitative research methods (e.g., expert interviews, in-depth interviews, group discussions, workshops), we examine your (potential) customers in detail. As a result, you receive a data-supported description of the target groups as well as recommendations for action for an optimal approach.
In addition to qualitative workshops, we also use maximum-difference scaling to measure the importance of product characteristics for portfolio optimization. For sales forecasts we recommend Choice-Based-Conjoint Analysis. In realistic decisions, valid findings on the benefits of individual product features are determined. The results are recommendations for action based on market simulations for targeted portfolio and product design.
In addition to qualitative workshops, we also use maximum-difference scaling to measure the importance of product characteristics for portfolio optimization. For sales forecasts we recommend Choice-Based-Conjoint Analysis. In realistic decisions, valid findings on the benefits of individual product features are determined. The results are recommendations for action based on market simulations for targeted portfolio and product design.
Direct queries on price assessments (Van Westendorp PSM) and purchase probabilities (Gabor-Granger) quickly provide well-interpretable results for established products and services. To measure price sensitivity for innovative services and products, we recommend Choice-Based-Conjoint Analysis. Based on demand simulations including consideration of the competition, your pricing strategy can be optimally aligned with market developments to ensure continuous success.
Direct queries on price assessments (Van Westendorp PSM) and purchase probabilities (Gabor-Granger) quickly provide well-interpretable results for established products and services. To measure price sensitivity for innovative services and products, we recommend Choice-Based-Conjoint Analysis. Based on demand simulations including consideration of the competition, your pricing strategy can be optimally aligned with market developments to ensure continuous success.
