Posted on 19 June 2019
This disguised case study discusses a leading specialty health foods ingredient manufacturer, Ingredients Co., and the steps they took to understand willingness to pay for benefits of specialty ingredients. Please note that company names and figures used in this educational case study are fictional and have been disguised to ensure confidentiality.
Ingredients Co. is wanting to demonstrate the value of its ingredients to their customers (health food manufacturers), who in turn want to develop products that consumers will find valuable. Their insights manager wanted to better understand; willingness to pay, consumer pain points and how to take share from competing products.
These insights needs were then specified as the following three research questions:
Each research question was addressed via a separate module and looked at from different angles.
Ingredients Co. were able to discover both willingness to pay across all respondents and willingness to pay by user type by using Generic Conjoint
By utlising MaxDiff, Ingredients Co. were able to discover which consumer pain points are most frequently occurring and most difficult to resolve.
Brand-Specific Conjoint was utilised to understand benefits that maximises share of preference for Ingredients Co. customers.
In summary, by utilsing the different angles of the three modules Ingredients Co. were able to identify the most valuable ingredients. Also, they were able to map the benefits and problems to ingredients, helping their insights manager successfully answer their research questions.
Do you want to understand how your customers would react? Start experimenting now: