A SaaS platform reached out about running research to optimize their pricing and packaging— textbook conjoint territory. But when we asked about their current pricing strategy, they said, "Well, our current pricing strategy is per-user-based pricing, but we're considering usage-based pricing and potentially a platform fee." They weren't   refining their pricing . They were completely rethinking their pricing model.  So we hit pause. Had we not asked about the business decisio

Getting pricing wrong is expensive. Price a product too high, and customers walk away. Price it too low, and you leave thousands (sometimes millions) on the table.  The key to avoiding these costly mistakes? Choosing the right pricing research method. But here's the challenge: it's not about picking the "best" technique. It's about matching the methodology to where you are in the product lifecycle and what decision your stakeholders actually need to make. The right pricing me

Master survey design with 5 essential guidelines. From defining objectives to data quality checks - design research that drives decisions.

Black Friday. President's Day. End-of-year clearance. A smart promotional pricing strategy can turn any occasion into a revenue driver, but without the right approach,  it becomes a margin killer. Most brands nail their everyday pricing strategy. But when it comes to promotions? They pick a discount that 'feels right' and cross their fingers. We’ve all been there - the “let’s just do 25% off and see what happens” approach. The result is exactly what you'd expect: missed margi

Imagine you run an ice cream company and your chocolate ice cream is a top seller.  It would only make sense to double down on that finding and launch a “double chocolate” version — extra rich, more indulgent.  But, what happens? The visitors who used to buy regular chocolate just switch to the double. You didn't bring in any new customers with your new offering. You just made your existing chocolate fans even happier.  Same customers, different SKU, but no growth.  This is p

An ice cream shop owner stands at their freezer, facing a crucial decision about which flavors to stock. Chocolate is their best-seller, but would three different chocolate variations really be the smart choice? Or would a mix of chocolate, strawberry, and mint actually delight more customers in total? This is the exact dilemma that businesses face every day—how to reach the widest possible audience while making smart use of limited resources. And this is where TURF analysis

Finding the right pricing strategy is a tough challenge. Mispricing can mean lost revenue, a weakened brand, and missed opportunities.  The good news is that pricing doesn't have to rely on intuition or guesswork. The right tools empower businesses to make data-driven decisions about their products. Many businesses use a tool called a pricing simulator. It's the primary deliverable of a technique called conjoint analysis.  These simulators can be used across various industrie

Understanding customer preferences is a make-or-break for your business. Guesses or hunches won’t get you far. Accurate, in-depth data on their preferences and priorities is needed. Unfortunately, the methods many companies use to gauge customer wants and needs often fall flat. Asking customers to simply rate products or features on a scale frequently gives vague, misleading, or superficial results. People tend to say everything is "very important" if they don't have to make

Learn research data quality tips straight from market research experts at Numerious and discover how to safeguard your survey data.

Many businesses struggle to understand what truly drives purchasing decisions. Traditional surveys can be misleading, as customers may not accurately report their preferences or may be unaware of the factors influencing their choices. This leaves companies guessing about which product features to prioritize, how to price effectively , and how to allocate resources for maximum impact. Insert - conjoint analysis. Conjoint analysis offers a powerful solution to these challenges.

What are some examples of advanced analytics for pricing products and services?  One of the most important decisions businesses face is how to price their offerings.  Pricing is not just a matter of picking a number. It's a strategic decision that requires careful analysis and a deep understanding of customer preferences, market trends, and cost structures.  That's where advanced analytics offers significant value. Advanced analytics are sophisticated techniques and tools to

Maximizing profit is a top priority for any business. It's the engine that drives growth and sustains your enterprise, but it's easier said than done.  There are many factors to consider, from pricing and product development to market positioning and customer segmentation. Creating the right strategy to maximize profit can feel like a constantly moving target. I want to explore proven methods and techniques to help you maximize profits and stay ahead of the competition.  Nail

The power of pricing research and price optimization constantly inspire me to help companies make smarter decisions that benefit their business and customers. Getting pricing right is no easy feat – it requires balancing willingness to pay, profit margins, competitive positioning, and more. However, leveraging the right research techniques can provide invaluable clarity.   In this article, I'll provide an insider's overview of the following:   ·      The genesis of price opti

I often advise clients to incorporate segmentation strategies to identify their target customers. An essential technique we employ is market segmentation, which typically leverages survey data to group customers based on their needs, attitudes, and behaviors. Businesses see greater returns on their marketing investments by tailoring products and messaging to segments rather than a one-size-fits-all approach. In this article, I will provide an overview of market segmentation,

At Numerious, we stress the importance of stakeholder collaboration during the design phase of a conjoint experiment. If designed right, choice-based conjoint analysis can provide invaluable insights into customer preferences and tradeoffs. But the true value of those insights lies in effectively communicating the findings to guide strategy and decisions. The end goal of every conjoint project is to empower teams to make data-driven choices, advancing customer-centric growth

As promised in my Crowning the Ultimate Halloween Candy with MaxDiff article, we have the results!  136 MaxDiff / Candy enthusiasts responded and the top 10 Halloween Treats are… The probability scores shown in the table range from 0 to 100 and reflect the likelihood that an item would be selected as "best" compared to the Anchor.  The Anchor is a question outside the MaxDiff where we asked respondents to "select all the items that you would actually want to receive as a tri

It’s that time of year when some of us decide to partake in the (over) consumption of candy and chocolate - all in the spirit of Halloween of course!  And many have taken a stab at crowning the ultimate Halloween candy.  A recent poll from Monmouth University named Reese’s Peanut Butter Cups as the Halloween favorite.  And in 2017, @fivethirtyeight posted an Ultimate Halloween Power Rankings , agreeing that Peanut Butter Cups reign over 85 other chocolates and candies. But t

Last week, Netflix announced that it would be increasing prices for new subscribers by one dollar for the Basic plan (Up to $8.99 from $7.99/month) and by two dollars for its Standard (Up to $12.99 from $10.99/month) and Premium (Up to $15.99 from $13.99/month) plans. The price increase will roll-out to existing users over the next three months.  What does this mean for Netflix users and potential prospects? Well, Mike Snider from USA Today responded with an article titled “N