![]() Moreover, the distinctive element of this analysis is that, while in the first two techniques the determination of value is entrusted to internal evaluations and estimates of the company itself, the conjoint analysis allows to know the customer’s point of view, his willingness to pay and his price elasticity. The former reveals the price points for which the probability of purchase falls significantly and the latter allows the identification of the perception of customer value through the identification of four pivotal values: the minimum price, the maximum price, the threshold price and the indifference price.Īmong these three approaches, the one most widely used by companies in the Conjoint Analysis, because of the possibility of knowing and analysing the perception of the value of the good or service clearly and effectively. Well-known examples of this approach are the Gabor-Granger model and the Van Westendorp model. Conjoint Analysis: the calculation of the value that consumers attribute to the product is derived from the results obtained through interviews, questionnaires and market surveys that aim to identify price sensitivity, the value attributed to the good by consumers and the willingness to pay.Fishbein technique: the value of the product is calculated as a weighted average of the values attributed to the individual components or brands of the product, and the value of the weighting depends on the level of importance that each attribute has on the overall product.Concretely, it consists in calculating the economic value of one’s own product given by the difference between costs and benefits for the customer in comparison with rival products. Management-based method: the determination of value is measured through EVC (economic value to consumer) and this measurement is entrusted to management.This value can be identified using three approaches: ![]() ![]() The latter technique, which is more complex than the previous ones, but also more profitable, is characterised by the choice to define prices according to consumers’ willingness to pay and the value that customers attribute to the good or service in question. The market-based method takes the form of competitor-based pricing, while demand-based approaches include cost-based pricing and value-based pricing. Three main methodologies can be used to determine the price at which a good or service should be offered in the market, which in turn can be grouped into two macro-approaches, one demand-based and the other market-based. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |