How many products should there be in an assortment, and how should they be priced individually? Does adding more products change the dynamics or psychology of customer choice? Or are there too many products that neither the customers nor the production department really can cope with?
This is a challenge in many industries. Classically, consumer goods manufacturers go through an assortment optimization (read: reduction of number of products) every few years as they also add many new innovations. But all kinds of other industries have similar challenges: how many car models to offer? What kind of software packages / plans should a Software-as-a-Service vendor offer?
Participants and viewers of the webinar will learn about
- Using willingness-to-pay insights to understand individual assortment items' value and power in the overall portfolio
- Clustering of willingness-to-pay to determine price ladders
- Predicting impacts of changes in the assortment using modern simulation tools from PriceBeam
- Anticipating competitive moves
The webinar will be available from January 15th, 2020. Otherwise, sign up on the right and receive a link by email to view the recording. If you have already signed up you will receive a link by the end of this date.
While old-fashioned market research would have taken months and cost a small fortune, PriceBeam's cloud-based willingness-to-pay solution changes all that. Not only can it deliver results in just a few days, but it is also very cost effective as it runs via the cloud. Furthermore, PriceBeam's price research is available in 109 countries world-wide. Book a personal demo here.