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Methods

Validate your Market Assumptions; don't guess.
Let your customers speak for themselves.

Zero Waste Store

Get Pricing Done Right

Luminim helps you find...

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  • Price points that optimize revenue and profit.

  • Your customer's willingness to pay for various features.

  • Inflection points in the demand curve where customers are most price sensitive.

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No longer base your pricing strategy solely on your costs, but on the true value delivered to your customers. Know how demand and your bottom line will be affected by each of the competing strategies you are considering.

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Product Optimization

Know before you go to market.

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  • What features do customers want most?

  • How much are they willing to pay for them?

  • Which bundles of features appeal to the biggest segment of your target market? 

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Profitably innovate new and existing products or services by understanding your market's preferences before you execute. Get the right data and correctly analyze it to build a model that explains what drives consumer choices.

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Messaging & Campaign  Optimization

  • What wording is most persuasive?

  • What copy best communicates your value proposition?

  • Which combination of copy & visuals will resonate with the biggest portion of your audience?

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Not only can you know which copy, messaging, or visual alternatives are most effective for your ad, campaign, or packaging, but know by how much they are preferred. Each alternative gets its own score by individual, by segment, and overall.

Young Couples

Market
Segmentation

  • Identify customer personas in respondent or choice-analysis data.

  • Determine profiles of your customers according to their preferences and willingness to pay.

  • Prioritize and identify your most promising targets .

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Know the critical differences in each of your identified market segments. Gain insights into how to most effectively target each. Ensure that you are providing the largest possible value to the most profitable segment(s). 

Methods - Conjoint

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  • Conjoint

    • A experimentally designed survey methodology that can be used to quantitatively estimate the difference between features and price.

  • Hierarchical Bayesian Estimation

    • Allows utility estimates to be computed for each member of the sample, each segment, or both.

  • Market Simulation

    • Using the utility estimates, we can recreate a market proxy so we can play “What if?” with different scenarios and optimize this for profit or revenue maximization, market share maximization, or some other target.

Methods - Best/Worst Scaling (MaxDiff)

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  • Best/Worst Scaling

    • More discriminating than ratings questions.

    • Handles larger volume of alternatives than ranking questions.

    • Avoid scale-use bias.

  • Hierarchical Bayesian Estimation

    • Like Conjoint, Best/Worst Scaling takes advantage of this state-of-the-art estimation technique for Bayesian inference. 

  • Segmentation

    • ​Analyze preferences by subgroups, determine feature/message bundling that reaches the broadest audience. 

Methods - Advanced Market Modeling

  • Menu-based models

  • Situational Choice Experiments

  • Custom survey programming

  • Custom data analysis

  • Ask us about your situation. We’ve probably worked on something similar before and can help.

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