Service

Product and Pricing

Optimizing Prices, Product
and Portfolios

Determine the optimal product configurations and prices for specific customer segments! Decide on a pricing structure for your product portfolio anticipating potential competitive reactions! Know which product attributes can be bundled in order to improve sales and profitability!

Holistic customer understanding for better products and pricing

Product and pricing decisions are crucial for marketers as they possess a direct impact on sales and profits. Given the massive spending on R&D necessary for developing new products it is crucial to know which features and functionalities truly meet customer needs, and which are dispensable. Successful pricing decisions also require an in-depth understanding of customers’ willingness to pay and their feature preferences next to cost and competitor information. Suboptimal decisions in the areas of product and pricing can not only result in lost revenue and profit for a company but can even threaten its very existence. Yet, successful product and pricing decisions don’t just happen by chance. They are based on a thorough understanding of the customers’ decision-making processes.

Your experienced partner for product and pricing decisions

Factworks supports you during all product development phases, from concept testing to market entry as well as in all questions related to pricing your products and services. From classic conjoint and discrete choice analysis to the most modern methods, such as Adaptive Choice Based- or Menu Based-Conjoint, our experts will create the best research approach for your distinct decision problem. At Factworks, we regularly presents at leading research conferences and constantly incorporate the latest scientific findings into our methodological toolbox. Our easy to use market simulators allow for our clients to understand the effects of alternative pricing decisions and different product configurations on revenue and profit for their own brand, but also for their competitors. Benefit from our deep methodological and conceptual expertise to make better product and pricing decisions!

Topics

  • Optimal prices, price structures for product features, feature bundles or product lines
  • Feature prioritization in product and service development
  • Product portfolio optimization

Methodologies

  • Innovation and Co-creation workshops
  • Max-Diff scaling
  • All variants of conjoint and discrete choice analysis (ACBC, MBC…)
  • Advanced market simulators
Case Study / Product and Pricing

Understanding Decisions for Cross-Border
P2P Payments

A client from the financial services industry wanted us to determine the ideal price model for their transnational peer-to-peer money transactions.

View case Study