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Best way to do pricing research for specialty chemicals?

We're trying to figure out what industrial buyers will actually pay for a new bio-based coating material. Not sure if conjoint makes sense here or if there's a better approach.

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David Kim
David Kim
Updated yesterday
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Conjoint can work but it's tough with industrial buyers since sample sizes are usually tiny and they're hard to recruit. Honestly, for specialty chemicals I'd start with in-depth interviews using a Van Westendorp price sensitivity meter — you get directional ranges fast with even 15-20 buyers. Once you have a ballpark, you can do a small discrete choice study if you need to test specific price/feature tradeoffs.

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