Introducing our new proposition: Unpicking consumer choice!
Consumers are at the heart of our clients’ businesses, so as a trusted analytics partner, we are frequently faced with the following questions:
- What drives consumers to choose one brand above another?
- How does price drive share of market?
- How can I optimise my price point or product size to get the biggest return?
- Which proposition is the most appealing to my target consumer?
To answer these questions and more – we’ve developed our consumer choice proposition, and are excited to add conjoint analysis to our analytics tool kit!
Conjoint Analysis is a technique that enables us to understand how consumers choose or trade-off between different products and their features, brands, services or messages.
- It tells us – what’s driving consumer decision making (implicitly!), and quantifies the importance of each factor – from brand to price to pack design, we can tell you which added benefits add the most value to your offer.
- How it works – surveys with target consumers are used to evaluate real life choices, which enables us to understand what elements are most important to them when choosing which product to buy, we then model the resulting data to unpick the key drivers.
- What we can learn – we can test lots of different market scenarios, allowing us to fine tune your product/services/messages, and see what the resulting market share would be.
So if any of the above sounds interesting, we’d love to speak to you about it even more!
Brightblue Consulting are a London based consultancy which help businesses drive incremental profit from their data. We provide predictive analytics that enable clients to make informed decisions based on data and industry knowledge. Through Market Mix Modelling, a strand of Econometrics, Brightblue has a proven track record showing a 30% improvement in marketing Return on Investment for clients’ spend. If you are interested to find out more please contact us through email by clicking here and one of our consultants will get back to you shortly.