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 Value Attributes (VA) study analyzes consumer preferences by testing various product attributes and features, helping businesses optimize product development and pricing for competitive advantage. VA helps understand consumers’ main deciding factor when purchasing a product and gives customers the opportunity to drilldown into specific features (Brands, Price, Pack Size, Claims / Benefit, etc.) unlocking key insights.
 

PriceBeam Conjoint Analysis is part of the PriceBeam RGM360 Solution

Value Attributes

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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Let's get you started

Book a demo with one of our PriceBeam experts and discover our platform capabilities.

 

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Case studies

Learn how our customers were able to solve their pricing challenges and increase revenue.

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