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Beyond Willingness to Pay: Incorporating Contextual Factors in B2B Pricing Research
This article explores the complexities of determining willingness to pay (WTP) for products and services. It underscores the necessity of including contextual questions in surveys and discussion guides to glean more insightful data and make more informed pricing decisions.
Read MoreHow to Name a Product: A Guide to Creating Effective Product Names
Naming a new product is a crucial step. A good name can communicate the product’s value proposition, differentiate it from competitors, and create a positive association with customers. But how do you find a name that meets these criteria and resonates with your target audience? That’s where market research comes in.
Read MoreDeveloping service offerings that add value
If your team is developing a new service offering, it is worth your time to ask the following questions. Does it address a pain point the customer is struggling with? Will customers pay for it? And does the customer believe you can provide it?
Read More5 Tips for B2B Product Bundling Research
Tips for conducting bundling and pricing research to help address questions such as: Are we leaving money on the table? If we increase prices, how many customers will we lose? Should we use a good-better-best bundling strategy? Is there a slimmed-down version of our product that appeals to cost-sensitive prospects? Is there a market for a premium bundle of features and services?
Read MoreFour recommendations for bringing an AI product to market
Isurus’ perspective on AI-enabled solutions comes from multiple research engagements in the last three years. We work with a mix of growth-stage companies, and established companies adding AI to an existing product portfolio. We see a common set of trends and implications for bringing an AI product to market.
Read MoreAlternatives to conjoint for identifying optimal feature bundles
Conjoint analysis is great tool to have in your research toolbox. Unfortunately, a combination of budget and practical realities can eliminate it as an option. This post looks at the how traditional approaches and techniques can provide the type of insights associated with conjoint and other trade-off modeling techniques.
Read MoreHow to identify the right price point in B2B markets
One of the questions in B2B go-to-market strategies is: What is the right price point for our offer? This post provides a high-level overview of standard pricing research techniques that can identify the market’s willingness to pay for your solution.
Read MoreMake it Easy for B2B Prospects to Buy (address the last mile problem)
Do some prospects slip away at the last stages of their buying journey, even though it seems your sales and marketing teams have done everything right? You may inadvertently be making it difficult for some prospects to make a decision. The following illustrates how this situation arises, and how to avoid it (names have been masked to protect the guilty).
Read MoreThe importance of anchoring in pricing research
Identifying the right price for your product or service can be challenging. This is especially true in B2B markets where the decisions are often complex, have high dollar amounts associated with them, involve multiple decision makers, and prices are often fluid based on discounting and other sales strategies.
Read MoreImproving innovation through better questions
Dwayne Spradlin, President and CEO of InnoCentive, recently contributed an interesting article in the Harvard Business Review that identified asking the right questions and defining the problem as critical elements of successful innovation: “When developing new products, processes, or even businesses, most companies aren’t sufficiently rigorous in defining the problems they’re attempting to solve and articulating why those issues are important. Without that rigor, organizations miss opportunities, waste resources, and end up pursuing innovation initiatives that aren’t aligned with their strategies.”
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