A global supplier of technical devices to businesses and consumers wanted to increase its market share in a highly competitive environment. Consequently we were challenged to define precisely which product and warranty features were valued most. And, even more critically, to define how these features related to the price customers were prepared to pay.
The Analysis solution
Our approach was to recommend using a conjoint trade-off analysis technique. First of all we defined a detailed set of key product attributes and price points. Secondly we programmed the conjoint model to be used in the trade-off analysis. As a result of this approach we were able to identify the relative importance of the product features, warranty options, brand position, and price.
As a result of using trade-off analysis we were able to create an interactive model that allowed the client to test out numerous scenarios. Most importantly this allowed the client to fine-tune the balance of product features, price and market share.