How do you calculate the price of a product that is completely new to the market? Pricing takes on a whole new challenge, when you are a pioneer in your field. When there is no precedent to let you know how much customers are willing to pay for your product. When the customers themselves might not even know!
That’s where conjoint analysis comes in to save the day. With this method you’ll learn how to calculate the value of your product’s individual components. You’ll see which combinations customers will pay more for and which ones they’ll pay less for.
All this will help set your product up for a perfect debut into the market. 🎉
In this lesson, we’ll learn: • How conjoint analysis isn’t as hard as you think 🤔 • How to calculate the part-worth of an object • Two popular approaches for entering the market 👣