When implementing a new product
or service, decisions on pricing and optimal mix often plague
the minds of marketers.
An automobile client intended to augment
their product offerings with new service bundles - not always
a 'go-no-go' decision. How should they bundle
content and price, and more importantly, predict the impact
their move would have on their customers?
The situation was complex. A multi-variate
approach was required. Our team of consultants introduced
the concept of trade-off and conjoint analysis. Exciting,
but the client team lacked the confidence to go ahead as they
were not familiar with the technique. A full-day workshop
was then initiated by Asia Insight to educate the client on
the research technique. The client was now ready to go. A
pilot test was conducted in order for the client to get first-hand
experience, then the study kicked off.
Upon completion of the study, Asia Insight
provided the client with
a simulation software, to map out “what if” scenarios
by simulating different product mixes and competitor reactions.
Again, a training session was conducted to ensure that the
client could use the tool for their future use. And they frequently
tapped in our minds to see how the results can be used to
make internal decisions.
The result? By working together with
our clients, complex research techniques were demystified,
and complex findings translated into simple actionable decisions.
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