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A leading audio technology company was planning the release of a new line of speakers to replace and/or supplement several of its existing products. The new speakers would offer enhanced sound quality and features, and the intent was that they would command higher prices and optimize revenue for the brand’s entire portfolio.
We conducted an adaptive choice-based conjoint among 3,800 current owners of the brand’s existing speakers and prospects intending to purchase speakers in the US and Germany. The method utilized cutting edge, AI-based technology to adapt the exercise to the respondent’s preferences in real-time, allowing for more realistic probing into each person’s decision-making process.
Our robust methodology allowed us to understand consumer preferences of various speakers at a range of price points, and our robust sampling plan allowed us to understand those preferences among various subgroups of interest. Through our analyses, we determined an optimal product and pricing strategy that yielded significant gains in revenue while neutralizing cannibalization for our client’s brand. The findings were utilized by the client’s product team to create a go-to-market plan for the new speaker line, and the line launched in Q1 2023.
