Value Attributes & Choice-Based Conjoint Research
PriceBeam Conjoint Analysis is part of the PriceBeam RGM360 Solution
What is a VA study?
PriceBeam's Value Attributes study presents participants with a comprehensive array of choices, enabling us to gain a deep understanding of consumer preferences. Through the application of choice-based Conjoint Analysis, you can determine the value customers place on each feature or benefit being tested. VA study is based on the popular scientific methodology of Choice-based Conjoint combined with PriceBeam’s market simulation tool.
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Simulate real-life market scenarios
Gain insight across the overall sample of a market tested as well as the opportunity of creating key segments such as channels, retailers, specific demographic and more to unlock powerful insight to tailor their pricing strategy accordingly. VA will unlock consumers biggest driver when faced with a choice, highlight the importance of key elements of a product and allow the customer to use the market simulation tool to test multiple scenarios (current or conceptual).
Challenges it solves
Value Driver Assessment
This allows you to test various attributes (e.g., Brand, Price, Size, etc.) to better understand the primary driver when consumers are faced with a choice.
New Product Pricing
Evaluate consumers' Willingness-to-Pay (WTP) for diverse product launches, enabling precise determination of the optimal entry price point.
Competitive Choice Analysis
Gain valuable insights into the product offerings of major competitors in comparison to your own, identifying key areas of strength and pinpointing successful strategies employed by both your competitors and your own brand.
Market Simulation
Create and test multiple scenarios by using various permutations of your own and/or competitors' products to observe changes in market shares and revenue.
Who VA study is for:
RGM Teams:
RGM teams benefit from a VA study as they can gain insights into price elasticity, optimal pricing, and revenue-maximizing features.
Innovation Teams:
Innovation teams benefit from a VA study as it enables them to prioritize features, test new concepts, and align product development with customer demand to minimize risk and maximize market success.
Marketing Teams:
Marketing teams benefit from a VA study to better understand which product features or attributes resonate most with their target audience and segment based on customer preferences.
Industries that would benefit from VA:
FMCGs/CPG
Beverages
Apparel
Cosmetics
Home Care
Food
Pet Food
Consumer Electronics
Veterinary Products
Consumer Goods
Services
Technology
Achieve your RGM goals
Holistic Approach to RGM
PriceBeam uses a holistic approach to achieve your revenue goals by integrating pricing, product, promotion, and various strategies across the organization to optimize all the factors that drive revenue growth. This approach provides users with a complete 360-degree view of revenue.
Advanced Insights
Leverage the power of data. Simplify data management with automated systems that load your data into a data repository, reducing manual input errors and increasing efficiency. Use world-class reports provided by PriceBeam experts to identify price opportunities or revenue issues.
Speedy Global Delivery
Results are available in as little as a day and never more than a few weeks, regardless of complexity. PriceBeam's cloud platform also delivers results 24/7 Globally in 127 markets.
Resources
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Case studies
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