Best way to test price sensitivity for a premium energy drink?

Question

We're trying to figure out how much consumers will actually pay before they switch to a cheaper option. Is conjoint analysis overkill for this or worth it?

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Isabella Moreau · Answer

Conjoint is totally worth it here — Van Westendorp Price Sensitivity Meter is quicker if you're on a budget, but for a premium drink where positioning really matters, conjoint will show you exactly how price trades off against things like flavor, caffeine content, and brand. I'd run a choice-based conjoint with 300-400 respondents and include 3-4 price points spanning your expected range. Tools like Qualtrics or even Conjointly make it pretty painless to set up.

Best way to test price sensitivity for a premium energy drink?

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