What it does for you
Consumers are more empowered in the last decade than ever before. This is not only reflected in the amount of choices consumers have nowadays, but they also have the possibility to buy optional features on top of the fixed products or bundled products (menus). Offering many different optional features, however, can be very cost-intensive. It is therefore mandatory to find the optimal amount and configuration features to maximize market share and revenue, while simultaneously maintaining low costs.
Helping you answer questions like
- What is the optimal prices of each feature of our modular (BYO) portfolio?
- What is the acquisition power of this optimized modular (BYO) portfolio?
- Do consumers prefer a BYO modular portfolio over fixed propositions?
- How can our portfolio be optimized by offering add-ons and premiums on top of our current propositions?
- How can our portfolio be optimized by offering add-ons and premiums on top of our current propositions?
- Which bundled packages of add-ons should be offered?
- What is the optimal configuration for each of these bundled packages?
- How should these bundled packages be priced?
- What is the optimal pricing strategy for the add-ons offering as a whole?
How it works
SKIM’s decision behavior platform builds on over 30 years of experience in practicing and advancing choice modeling techniques. We provide an adaptive approach to each project with the appropriate blend of methodologies to fit the project and market needs. Our approach is based on survey testing with the relevant customer base away from your store or website.
By changing multiple product features in “virtual shopping trips”, we identify the optimal configuration of add-ons/optional features and price on top of your current products. SKIM uses conjoint methodologies to test menu optimization in a survey environment providing all the required insights. Menu-based conjoint allows you to test different feature/price bundles as optional add-ons on top of your current available products and test which add-ons works best to maximize share and revenue.
