PRODUCT STUDIES–Product Design and Optimization
Product design and optimization helps determine the impact product attributes have on market share. Introducing too many product attributes or benefits may increase costs, while not having the right combination of attributes may result in lower sales.
Through the use of conjoint and discrete choice analysis, we can help you determine the impact each of your product attributes or proposed attributes will have on your market share. In addition, we can also determine the best combination of benefits or attributes to maximize sales.
- How many benefits should our product have?
- What combination of attributes will maximize market share?
- What benefits should be included or added to our product?
- Can we lower expenses by removing benefits?
Savitz Success Story
A major credit card company increased profits from its credit card by discovering which features and terms drive customer usage. The study used a conjoint model to determine the optimal combination of product attributes.