How do you figure out the right price for a premium cleaning product?

Question

We're rebranding a household cleaner and trying to move it upmarket. Wondering if conjoint analysis is overkill or actually worth it here.

Related reading:How to Conduct Rigorous Market Segmentation Research in the Machinery and Equipment SectorFeeding the Future: A Conversation with Dr. Priya Anand on Data-Driven Market Research in Global Agriculture

James O'Brien · Answer

Conjoint is absolutely worth it here — moving upmarket means you need to understand which attributes (scent, packaging, formula claims) justify a price premium, not just guess. A simple choice-based conjoint with 300-400 respondents will give you a solid price elasticity curve and show you where the drop-off happens. We ran something similar for a cleaning brand last year and it saved them from underpricing by about 15%.

How do you figure out the right price for a premium cleaning product?

1 Answer

Your Answer

Related Content