Developing Effective Commercialization Strategies
Launching a new product or growing an existing one requires more than gut instincts and guesstimating for sustainable, long-term success. Develop a clear understanding of how customers buy products and services and you will be on your way to crafting an effective strategy.
Conjoint analysis, a quantitative research method, measures the trade-offs buyers make regarding brands, pricing and product/service features. Studies like these can be used for market segmentation, pricing strategy, product development, and forecasting share of preference with market participants. Armed with this information, marketers are able to assess product viability, make strategic decisions regarding product promotion and distribution, and understand the competitive environment.