Assignment Debrief: Calculating WTP Using Conjoint

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來自 University of Virginia 的課程

Pricing Strategy in Practice

57 個評分

University of Virginia

Pricing Strategy in Practice

57 個評分

課程 4（共 4 門，Specialization Pricing Strategy Optimization）

In this project-centered course, Darden's Ron Wilcox and BCG's Thomas Kohler will walk you through a real-world case, from problem statement to detailed analyses. You'll use all three lenses (cost, customer value, and competition) to recommend an optimal price—and then adjust to market disruptions. Utilizing the concepts, tools and techniques taught in previous Specialization courses—from basic techniques of economics to knowledge of customer segments, willingness to pay, and customer decision making to analysis of market prices, share, and industry dynamics—you will practice setting profit maximizing prices to improve price realization. You'll finish the course with a portfolio-building project that demonstrates your pricing prowess.

從本節課中

Customer Value and Conjoint Analysis

This week, we will dig deeper into customer value using conjoint analysis to determine the price sensitivity of consumers and businesses. Thomas and Ron will show you how to graph the conjoint data to easily compare these two markets--and you'll do additional analysis of the conjoint data to learn more about what consumers value. Using your analysis, you'll hone your pricing recommendation.

Assignment Debrief: Learning about the Market Using Conjoint Analysis3:42

Assignment Debrief: Calculating WTP Using Conjoint3:11

與講師見面

Jean Manuel Izaret
Senior Partner and Managing Director, Leader of BCG’s Global Pricing Practice
Ronald T. Wilcox
NewMarket Corporation Professor of Business Administration & Senior Associate Dean for Degree Programs
Marketing
Thomas Kohler
Associate Director, Pricing
Marketing, Sales & Pricing Practice

We thought we'd dive into one of the specific questions that we ask

you to prepare.

In particular, look at question four.

Suppose we're considering charging $15 for a light bulb.

How much more would a consumer be willing to pay for

a bulb that uses only five watts of power?

I think that's what we should dive into, Thomas.

>> That is an interesting question, and

I'm sure many learners are scratching their head, literally, how to do it.

So let's walk through it step by step.

>> Yes, yes. Would you help me with this

a little bit so I can get these numbers up?

So the way we solve a problem like this is the first thing we ask ism how much

additional utility does the consumer get when we move from ten watts to five watts?

Remember, moving down in watts is a good thing.

That's less power consumption.

So let's get the utility difference here.

>> So at 5 watts, >> Okay.

>> The utility is 12.5.

>> Okay.

>> And at 10 it's 6.1.

>> 6.1, okay so we see that increase in utility and

if we do the calculation here, what do we get?

We get 6.4, and what that means is,

if we go from ten to five watts, we get 6.4 more in utility.

Now we've gotta translate that into prices, right?

>> So in other words, how much are those incremental 6.4 utilities worth for

the consumer so that it's equalized again?

>> Right, right, I think that's the best way to go forward with it.

Right now the question says we're at $15 on the price.

>> And there we have a utility of -5.3.

>> Okay, -5.3, okay.

Now, and then, well, that's what we're starting.

Now how much more utility can we take away from them on the price front?

Well, we just calculated that, it's 6.4.

So if I take the -5.3 and I reduce that by even 6.4 more,

what I get is, I'm down at 11 or -11.7 in the utility.

Now let's just eyeball this for a minute,

because I think that's really all we have to do to understand what's going on.

So let's look down at your conjoint analysis output to try and

figure out where -11.7 is.

>> And we are at -7.7 at $19, [COUGH] and then at -15.6, and then we are at $21.

So it's somewhere in between there.

>> Exactly, okay, so it looks like this is about halfway between these

two numbers on the 19 and the $21 price point.

So we're about at $20 here.

And what that tells you is how much more are people willing to pay?

Well, we started at $15, they're now willing to pay $20.

That's a pretty big price bump.

So they're willing pay $5 more for that product improvement.

>> Well this is the way you calculate the willingness to pay using conjoint analysis

output, and I'm sure you've come to the conclusion this is really useful in

figuring out which markets you might sell into and what those price points may be.

>> I bet.

>> All right.

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