Value Attributes & Choice-Based Conjoint Research
Research how your customers in a given market are valuing product/service features. Calculate what the total willingness-to-pay is for new combinations of features yet to be launched.
Challenges it Solves
Setting the right price88% of pricing is done on guesswork, using gut feeling and not understanding how much your target market is willing to pay. With PriceBeam's value attributes study, gain insight into how customers value your products/services.
Optimize value-based pricingValue-based pricing enables businesses to optimize their prices on how a customer perceives the value to be, not factoring in production costs. Price point is not always a factor for why customers just a product or service. If your brand is thought to have higher value than other brands in the industry, prices can be set higher.
Competitive price positioningKnowing which attributes customers value, businesses can differentiate themselves from competitors by emphasizing unique or superior features. This allows for strategic pricing that justifies higher costs based on the perceived value of these distinct attributes.
New product conceptsValue Attributes enable you to test new product concepts to understand their impact on customers' willingness-to-pay.
Benefits of Value Attributes(CBC)
Value Attributes study provides many benefits to businesses to understand the perceived value of products, features or services.
Understanding the value of your product/services and its unique attributes can help businesses differentiate themselves from their competitors and price according to their value and uniqueness.
Informed Pricing Decisions:
PriceBeam's Value Attributes Research presents customers with a series of choices. Using choice-based conjoint analysis, we can determine the value customers put behind each tested feature.
Value attributes study allows for market segmentation based on different customer preferences. This segmentation facilitates the creation of tailored products or services for specific customer segments.
New Product Launch:
PriceBeam's Value Attributes methodology allows you to test new product concepts, and assess how much customers are willing to pay for each feature. Make solid product and price decisions, using our conjoint-analysis-based research.
How Does It Work
PriceBeam’s solution conducts extensive market research, and collects and analyzes data before delivering a detailed report on your customer’s willingness to pay. This data will enable you to stick out from the competition, maximize profit, and set prices that aid your long-run brand positioning.
Define offering & target market
Conduct Market Research
Available in 127 countries
Run the analyses in 127 countries around the world without leaving your desk. PriceBeam takes care of finding respondents, asking the right questions in the local language, interpreting results, and delivering the final analysis to you.
You define the target market and describe the product.
PriceBeam finds the right respondents in each of the markets.
Run single-market assessments.
Run and compare results between countries, as part of international launches or price increases.
PriceBeam solutions can solve different types of pricing challenges.
Essential Package - Consumers
Quickly research what your customers in a given market are willing to pay for a product or service.
Advanced Package - Consumers
Expand research by analyzing Willingness-to-Pay overall as well as per segment.
Understand what willingness-to-pay among business customers.
Ready to get started?
Book a call with one of our experts and see how we can help.