The firm’s client strategically reshaped their product offerings and pricing strategies for global success.
To unlock profit, the client needed to understand feature prioritization and pricing in niche markets
A top 3 management consultancy needed insights to help a freight software company stay at the top of their industry. With a new SaaS platform in development, the end client wanted to determine the features most valued by potential users and establish competitive pricing. They turned to NewtonX to target heads of inspection and maintenance DMs in heavy industries to shape their approach.
NewtonX recruited and surveyed 40 facility inspection DMs across 5 geographies
By leveraging our open network of 1.1B professionals, we custom recruited 40 asset integrity inspection and maintenance DMs of large industrial facilities. Respondents spanned across the US, Europe, Middle East, South Asia, and Southeast Asia. Over the course of 3 weeks, we surveyed professionals who were responsible for extending the life of their assets for as long as possible without jeopardizing employee safety.
We analyzed and packaged the findings into a comprehensive report for the consultant, complete with analyses, charts, and recommendations. To determine feature prioritization and pricing optimization, we utilized two different methodologies: MaxDiff Analysis and Van Westendorp Pricing.
40
facility inspection DMs in heavy industries across 5 different geographies
Verified insights enabled actionable recommendations for new features and profitable price points
The insights from the MaxDiff Analysis revealed that they should shift their focus towards integrating various product feature tiers to better serve different customer segments. Equipped with a comprehensive list of features to prioritize, their product development roadmap now had a clear direction. The Van Westendorp Pricing methodology offered valuable insight into the price ranges acceptable in global markets. This enabled the consultants to identify specific price points that would enhance market entry efforts.
The insights from MaxDiff Analysis and Van Westendorp Pricing methodology allowed the end client to strategically integrate product features and identify optimal price points, leading to a transformative shift in their market approach and setting the stage for future global success.
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