Qualtrics, the leader in experience management, announced broad feature enhancements to its groundbreaking Conjoint XM solution, which empowers companies to identify what features are most important to a customer when buying a product or service.
The Qualtrics Conjoint XM solution scientifically identifies preferences that consumers have for different features by automating the testing and analysis of various package combinations. This powerful tool is the latest edition of Qualtrics’ Product Experience (PX) solutions.
“New enhancements to the Qualtrics Conjoint XM Solution allow organizations to take the guesswork out of determining customer preferences, and to make data-driven decisions on product, pricing, and packaging,” said Kelly Waldher, vice president of Research Core, Qualtrics. “Studies show that 80% of new product launches in the marketplace fail. Qualtrics is dedicated to partnering with enterprises to dramatically improve the chances of achieving product-market fit.”
The new features include Willingness to Pay, which calculates and surfaces 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.