Forecasting & Pricing
Companies often reach a critical juncture where information about their customers is needed to guide pricing decisions or address the optimal configuration of their product or service. For many of our clients facing these decisions, ConStat has utilized advanced choice modeling and statistical methods to design optimal product configurations, forecast demand, or measure price elasticity. Choice modeling involves a range of analytical techniques, such as conjoint analysis and discrete choice modeling, which we use to understand the trade-offs consumers make when selecting among alternative products and services. ConStat has employed many different techniques for our clients seeking to understand the likely impact of their customers' decision-making behaviors.
In addition to offering insights into the relationship between price and demand, and how product or service features influence demand, ConStat can often provide clients with a market simulator, a tool that allows clients to evaluate the relative impact of alternative marketing plans on demand for their products or services.
ConStat's Marketing Scientist is a leading national authority on experimental designs, cognitive choice modeling theory and strategic marketing research and is closely involved in determining the most appropriate research design for clients wishing to investigate demand forecasting and pricing.