Case study: How conjoint was used to determine the optimum pricing strategy for a range of surgical products



The challenge

Our client wanted to understand that value and price that healthcare providers attribute to a range of surgical products and to develop an effective pricing strategy for two new products with a unique mechanism of action.

conjoint used to determine the optimum pricing strategy for a range of surgical products- case study
conjoint used to determine the optimum pricing strategy for a range of surgical products- case study



The challenge

Our client wanted to understand that value and price that healthcare providers attribute to a range of surgical products and to develop an effective pricing strategy for two new products with a unique mechanism of action.

The solution
We employed PVP - Perceived Value Pricing - a conjoint exercise - which lets physicians and nurses provide an implicit price estimate for different product profiles based on their attributed value. We tested different product profiles against the range of existing products to dtermine the attributes which drive selection and utility. 

The outputs
We identified which attributes were driving utility and price and enabled the client to develop the most valued product profile and its optimal price. We could recommend the price corridors that would be acceptable for maximum uptake.

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