Whether developing a new product or service, introducing a product or service into a new market, or seeking to improve the performance of a product or service in an existing market, we can help companies optimize their product or service offering.

Our research identifies the product configuration and price that will maximize market share, revenue, and ideally profit in each target market.

We optimize products using the gold standard methodology in market research: conjoint analysis. Conjoint analysis presents different hypothetical products or services with varying features to potential buyers and asks them to select the one they would buy. Buyers go through this task several times.

At the end of the study, we use the data collected to determine:

1. Which features make buyers more likely to purchase a product or service.
2. Which features don’t matter to buyers.
3. Which features make buyers less likely to buy the product or service.
4. How much buyers are willing to pay for each feature.
5. The expected market share, revenue, and profits of different potential products or services compared to the competition.

These insights help companies:

1. Include features that increase purchase likelihood and that are more valuable to buyers than their cost to the company.
2. Exclude features that don’t matter to buyers, that negatively influence purchase decision, or that have less value to customers than their cost to the company.
3. Price the product at the level that maximizes market share, revenue, and/or profit.

The result is a product or service with optimal features and an optimal price for the market the company wants to sell in.