Receive feedback from consumers at every stage of the product lifecycle.
From initial concept testing, pricing research and conjoint analyses to user experience, ValueQuest provides the support you require to understand market needs and translate them into concrete specifications.
Comprehensive needs assessment
Would you like to launch a new product, adapt services?
ValueQuest supports you with suitable instruments.
Together with your specialists, ValueQuest develops a catalogue of questions that translates the Unique Selling Proposition (USP) of your product into a customer-friendly and thus suitable form for a survey. If required, we can base this on an upfront qualitative market survey such as focus groups or in-depth interviews.
ValueQuest uses modern survey software and finds answers to socially desirable and sensitive questions through innovative survey forms (e.g. split design, conjoint analysis, expectation sorter, …).
We support you in finding or evaluating the right target group for your survey and determine in which customer and market segments your offer can best be placed.
Conjoint analyses
A company is often faced with the challenge of finding the optimal configuration for new products or services for its customers.
- Which combination of features provides the greatest benefit for the customer?
- Which product components can be dispensed with?
- For which product features is the customer most willing to pay?
One approach to answering these questions are Conjoint analyses. Conjoint is a survey method developed in psychology. Conjoint analyses measur the benefit that a product provides for the customer in different configurations.
In addition to the overall benefit, the utility value of individual product components or alternatives can also be determined. If these findings are combined with price information, clear indicators of the customers’ willingness to pay can be obtained.
ValueQuest has many years of experience in the development, implementation and analysis of conjoint studies. The following methods are of particular importance:
- The choice based conjoint analysis (CBC)
- The adaptive conjoint analysis (ACA)
- Maximum Difference Scaling (Max Diff)
Storytelling and in-depth interviews
Especially when it comes to a sound understanding of the customer’s world of thought, purely number-based market research reaches its limits.
This is where the methods of qualitative market research provide a deeper insight and reveal the expectations, motives and fears of current and potential customers. It is the key to designing a holistic service experience for the customer that goes far beyond the actual core product or service.
Qualitative market research also helps to better understand customers’ decision-making and purchasing processes.
ValueQuest focuses on the following two methods:
- Focus groups
- Interviews with experts
Price research
The optimal pricing of products and services is one of the most difficult tasks in marketing. Often the price is decisive for the successful market launch of new products and the profitability of a product.
Modern, method-based market research can support marketing in the optimal pricing of products and services.
- Identification of an optimal, realistic and competitive price for market services
- Assessment of price sensitivity > Price/sales function
- Receiving hints for an optimal pricing strategy
- Entry prices (special offers, bundle prices, …)
- Identification of attractive customer segments (in terms of price sensitivity)
- Image effect of different prices
ValueQuest relies on split design surveys, conjoint analysis and the “Van Westendorp Price Finder” for price search.
We would be happy to help you with a market analysis