Pricing Research Tools You Must Know: Monadic Experiments, Van Westendorp, and Conjoint Analysis

Optimizing price or just setting price decently well so you’re not leaving too much on the table are critical asks of many research departments and consultants. When you turn to survey-based approaches, three critical tools are Monadic price experiments, Van Westendorp, and conjoint analysis. Each has different strengths and weaknesses. Monadic pricing experiments can be made more conjoint-like. Also, there’s a clever trick for VW that elevates it beyond the usual (and dubious) line-crossing analysis. Although conjoint analysis is often considered the more powerful and flexible tool, there are situations in which the other two are the right way to go. Join Sawtooth’s CEO Bryan Orme for this insightful and practical discussion!