Developing new products or services, or enhancing existing ones, is now an integral part of your company’s initiatives, yet you realize that building services that just pile on features isn’t the right way to attract and engage customers. With constant change in the marketplace, you know it’s more important than ever to consider all options and understand how each impacts your business. Your decision about what to offer and how to price it will have a company-wide impact.
It’s important to consider everything that could influence a product’s potential, but we know choices must be made. We believe in making smart tradeoffs based on an evaluation of how these features and factors impact your business.
MaxProduct™ enables you to determine the optimal feature set and pricing for your product or service. Our proprietary solution helps you to understand what feature tradeoffs need to be made based on customers’ buying interest and the resulting impact on revenues and profit.
How it’s Different
Our rigorous solution is rooted in a hybrid conjoint/choice methodology that can accommodate a large set of features (e.g. products attributes, brand, service channels, price points), all of which can be executed online, on a mobile device, or on the telephone in an uncomplicated, time-efficient survey. This means you will have greater confidence in the insights, while benefiting from faster and more cost-effective data collection.
MaxProduct™ also makes the final output accessible, interactive and actionable for product decision-makers. Management can simulate the impact product and pricing decisions have on demand and profitability, determining what is optimal for your business.
Benefit of the Approach
By taking into account a robust feature set and business considerations, MaxProduct™ helps you:
- Identify the optimal feature set and prices
- Gauge consumer acceptance of a new or existing product by segments
- Link product changes to the bottom-line
- Identify market niches that can be satisfied with product variations
- Assess what to include or drop from a product line