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Conjoint and Price Studies
Conjoint analysis is an advanced market research technique that gets under the skin of how people make decisions and what they really value in products and services.
Conjoint analysis is used to optimize products and services to market needs by quantifying how features and price drive customer choice, measuring trade-offs between features and price. For example when we introduce a new product to the market and what to explore the price sensitivifty, or are about to find the best combination of price and content in that package of solutions that we want to offer.
We investigate the relation between price and product in order to understand what people base their decisions on.
By understanding precisely how people make decisions and what they value in your products and services, you can work out the sweet spot or optimum level of features and services that balance value to the customer against cost to the company and forecast potential demand or market share in a competitive market situation.