Pricing and product configuration has an enormous effect on the adoption of your product or service. Testing within your target market allows you to adjust pricing, feature highlights, messaging, and positioning before going to market.
A price elasticity study provides insights as to where you should place your price point and the flexibility of that price point. Testing pricing elasticity allows you to forecast ROI as well as make price-change decisions concerning what type of occasional specials or discounts make sense.
Additionally, performing conjoint analysis allows you to test product/service configurations to set a pricing and feature matrix before going to market. Conjoint analysis can show you not only what the most popular elements of a bundle would be, or which features of a product are most compelling, but also how much customers would pay for that feature bundle versus a different one.
