Qualtrics enhances product preference tool

The tool automates the testing and analysis of various package combinations.

The new features include willingness to pay, which calculates and gains insights on the amount a customer is willing to pay for a new offering, and dual choice conjoint, which allows companies to more accurately predict the likelihood of purchase for various product configurations. 

Kelly Waldher, vice-president of research core, Qualtrics said: “New enhancements to the Qualtrics Conjoint XM Solution allow organisations to take the guesswork out of determining customer preferences, and to make data-driven decisions on product, pricing and packaging. Studies show that 80% of new product launches in the marketplace fail. Qualtrics is dedicated to partnering with enterprises to improve the chances of achieving product market fit.”