Since our previous update announcement our team has been working tirelessly to bring even more enhancements to our product and pricing decision-making solution.
Today we are announcing the biggest update to our solution from the day we started innovating how product and pricing decisions are supported by market research.
A significant new feature is Virtual Shelf Conjoint (more on that later), we also updated our Price Elasticity Calculator, and Price and Market Simulators. Finally, for the first time we are expanding our solution’s capabilities beyond Choice Based Conjoint by adding MaxDiff Analysis to our set of survey methodologies.
Fully Customizable Shopping Environment for Virtual Shelf Conjoint
Virtual Shelf Conjoint is a game-changer for FMCG commercial decision-making. By mimicking real-world purchase decisions in a realistic shopping environment, brands can quickly capture Product and Price insights with greater accuracy.
With its recent enhancements, brands can customize the simulated shopping environment more effectively to:
- Test any FMCG product category by placing them on a virtual shelf, displayed in realistic sizes and volumes
- Customize the shelf background to match the individual shopping experience (supermarket, pharmacy, etc)
- Customize the type of shelf to display your products in a more realistic setting
- Customize the price and discount shelf tags to test the effectiveness of various discounts and promotions
Dynamic Price Elasticity Calculator for Conjoint
With our new Price Elasticity Calculator it is easier than ever before to set prices with confidence by identifying if price plateaus and cliffs exist. Now you can share price insights unambiguously with your stakeholders.
The Price Elasticity Chart precisely indicates the degree to which customers will react to price changes by calculating the midpoint price elasticity across multiple price intervals within the tested price range.
- We’ve added a new chart that shows the Price Elasticity Curve along the tested price range.
- You can easily identify elastic and inelastic price ranges for your and your competitors’ products.
- With the new Calculator, you can simply determine the Price Elasticity between two selected price points
- Using our advanced filter capabilities, Price Elasticities can be calculated on a market and customer segment level
Advanced Market and Price Simulation Toolkit for Conjoint
The strength of a Conjoint Analysis solution relies on the versatility of its simulation capabilities. With our advanced Market and Price Simulation toolkit, it is now possible to unlock game-changing Product and Pricing insights easier and faster than ever before!
Our upgraded survey analysis tools make it easier to compare and export multiple simulations!
- Easily compare Market Share and Price Optimization Simulations by using the new Comparison tab functionality
- Maximize not only your revenue but also profits by leveraging our new Business Case Tools
- Communicate key insights by using bookmarks for your simulations
- Export all Charts and Calculations easily to Excel, Powerpoint, or PDF
New Use Case Unlocked: Versatile Product Design Testing with MaxDiff
MaxDiff is the swiss army knife of customer preference measurement. Robustly ranking up to 35 product features for market appetite unlocks endless Use Cases.
Now we’ve added one more use case: using images as product features, you can now also test target customer preferences for different product designs, marketing slogans or package layouts against each other!
- Use product design images as tested features to unlock an unambiguous preference ranking
- Instead of running an A/B test between two options, MaxDiff can test up to 35 package designs simultaneously
- Using EPIC Conjoint’s extensive filter capabilities, you can break down aggregated results to a market and customer segment level
All new features are available to all our customers. If you want to find out more about them, get in touch to schedule a call and see the platform in action.
Want to see EPIC Conjoint in action and find out how it can help you uncover customer insights, make pricing decisions and drive growth?