Anyone used conjoint analysis to price a new beverage product?

Question

Launching a functional drink and trying to nail the price point before we go to retail. Wondering if conjoint is overkill or actually worth it at this stage.

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Anika Patel · Answer

Conjoint is totally worth it at this stage — way better than just asking people what they'd pay (which always skews high). We ran a choice-based conjoint for a wellness shot launch using Qualtrics and ~300 respondents, and it gave us a clear sweet spot around the $3.49-$3.99 range before we even talked to buyers. Saved us from underpricing by almost a dollar.

Anyone used conjoint analysis to price a new beverage product?

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