Pricing of enormous number of features – not a problem anymore!

Surbhi Minocha and Vasudha Kumar

Kantar India, the Data Investment Management division of WPP, shares its end-to-end framework for conducting consumer-pricing research and explains how conventional methods do not provide a reliable solution.

Preface

Feature rich categories such as automobiles, durables, electronics, real estate and services are usually high involvement purchases characterized by complex pricing mechanism and long list of features. In this paper we share our end to end framework for conducting consumer pricing research in such domains. It may seem that this kind of problem can be easily handled by conjoint solutions that are already available. However, as will be explained, conventional methods do not provide a reliable solution - specifically when number of features to be tested is large (100+). Thus the need for a new approach.Our approach...

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