EPIC Conjoint

𝐇𝐨𝐰 𝐟𝐚𝐫 𝐜𝐚𝐧 𝐆𝐫𝐚𝐧𝐝 𝐓𝐡𝐞𝐟𝐭 𝐀𝐮𝐭𝐨 𝐕𝐈 𝐩𝐮𝐬𝐡 𝐭𝐡𝐞 $𝟕𝟎 𝐩𝐫𝐢𝐜𝐞 𝐞𝐧𝐯𝐞𝐥𝐨𝐩𝐞? 𝐴 ‘𝑤𝑖𝑙𝑙𝑖𝑛𝑔𝑛𝑒𝑠𝑠 𝑡𝑜 𝑝𝑎𝑦’ 𝑐𝑜𝑛𝑗𝑜𝑖𝑛𝑡 𝑝𝑟𝑖𝑐𝑖𝑛𝑔 𝑠𝑡𝑢𝑑𝑦 𝑏𝑦 𝐸𝑃𝐼𝐶 𝐶𝑜𝑛𝑗𝑜𝑖𝑛𝑡 What if we increase the price? This is a common dilemma for almost everyone in business. When the product doesn't fall into the category of essential goods but rather entertainment, the mentioned puzzle becomes even more complicated. According to recent gaming industry reports, the global gaming market is expected to reach an astonishing $450 billion in 2024, firmly establishing itself as a dominant force in the entertainment industry (Statista). Keeping that in mind, #EPICConjoint focused the research on how far 𝐆𝐫𝐚𝐧𝐝 𝐓𝐡𝐞𝐟𝐭 𝐀𝐮𝐭𝐨 𝐕𝐈 (𝐆𝐓𝐀𝟔) can push the $70 price envelope. Here we are sharing some key insights: 💳 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐖𝐢𝐥𝐥𝐢𝐧𝐠𝐧𝐞𝐬𝐬 𝐭𝐨 𝐏𝐚𝐲: Discover how far gamers are willing to go when it comes to the pricing of GTA 6. 📈 𝐂𝐨𝐧𝐣𝐨𝐢𝐧𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬: Learn how #ConjointAnalysis aids businesses in exploring various pricing scenarios, enhancing actionability, and enabling more precise decision-making. 💡 𝐃𝐞𝐞𝐩𝐞𝐫 𝐏𝐫𝐢𝐜𝐞 𝐒𝐞𝐧𝐬𝐢𝐭𝐢𝐯𝐢𝐭𝐲 𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠: See how conjoint research provided a deeper understanding of gamers' price sensitivity. 🖱 𝐅𝐨𝐫 𝐦𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐬, 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐜𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐰𝐡𝐢𝐭𝐞𝐩𝐚𝐩𝐞𝐫 𝐚𝐧𝐝 𝐟𝐢𝐧𝐝 𝐨𝐮𝐭 𝐬𝐢𝐠𝐧𝐢𝐟𝐢𝐜𝐚𝐧𝐭 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐟𝐨𝐫 #𝐩𝐫𝐢𝐜𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐚𝐦𝐢𝐧𝐠 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲. #GTA6 #GamingIndustry #PricingStrategy #MarketResearch #ConjointAnalysis #EPICConjoint #WillingnesstoPay #ConsumerInsights

We are once again partnering with EPP - Pricing Platform for EPP Global Retail & E-commerce Pricing Forum 2024. This will be our nth time in Barcelona and each time we try to test the capabilities of Conjoint to uncover more insights on challenges affecting brands every day in every country. 📊 💡 This time we will explore one of the biggest drivers of volume for retailers and destination categories - the retailer leaflet. A key objective for every NAM’s most important promotions of the year, we want to shine a light on how elastic the headline deals are and how positioning on the leaflet will impact performance. #EPP #SmartPricing #ConjointAnalysis

🎙 Our CEO Matt Johnston gave a slightly different perspective on pricing in Temy's podcast. He spoke about his professional development – from his early ambitions to the choices he made regarding his education and careers in America and Qatar, as well as what led him to return to Ireland, and overcome the fear of launching a startup. 🚀 He also explained why pricing in the absence of rigorous research can have catastrophic consequences for a business. Many thanks to Chris Delapp, TEMY’s podcast host, for the convivial and relaxed interview. 🙂 🎧 Put on your headphones, click on the link below and learn how insight supported pricing can improve your business. 🖱 ⬇ https://lnkd.in/dbpkCrDF #SmartPricing #ConjointAnalysis #podcast #AI

We are honoured to have esteemed Professor Barry Smyth join EPIC Conjoint’s advisory board. Not only has Barry reached the pinnacle of academia, currently holding the DIGITAL Chair of Computer Science at University College Dublin, and previously leading the Clarity Centre for Sensor Web Technologies and the Insight Centre for Data Analytics, he is a successful entrepreneur twice over. Barry co-founded ChangingWorlds which was acquired by Amdocs Inc in 2008. That same year Barry co-founded HeyStaks Technologies Ltd. to commercialise new social search technologies. Barry’s deep AI expertise extends 30+ years, having cut his teeth in ML in the early 1990s. We feel privileged to draw on Barry's ML expertise to help steer the development of EPIC Conjoint’s GenAI price optimization solutions. #ConjointAnalysis #AI #Welcome

📊 After more than a decade working in the field of market research, data analysis, and audience segmentation, we welcome Conor Curley to the EPIC Conjoint team. As EPIC's new Lead Data Scientist, Conor comes to us with significant expertise in data science, machine learning and AI. We are confident Conor will bring fresh perspectives and cutting-edge methodologies to elevate EPIC's data capabilities and research solutions to new heights. 👨💻 We look forward to the exciting advancements and insights he will bring to the EPIC team. 📈 Please join us in giving Conor a warm welcome. 💬 #Welcome #NewTeamMember #EPICteam

Happy World Environment Day. Let's make the planet greener! 🌍 🌱 🌳 We are proud to have planted almost 500 saplings (and still counting) in Dunsany Nature Reserve in collaboration with Bob Hamilton from Irish Trees. EPIC Rewood, which consists of Oaks, Alders, Willows, Rowans, Birches, is the most visible but not EPIC Conjoint's only ecological project. We also have partnered with PricingForThePlanet to gather insights into sustainable pricing with the goal of encouraging companies to adopt more sustainable practices. 💻 🖱 📧 And last but not least, in everyday business we are trying to reduce our carbon footprint – using digital document management, electronic communication channels, and cloud-based systems. We hope that we have inspired you to implement greener practices in your business, and we encourage you to share your environmental ideas with us via our EPIC Planet page ➡ https://lnkd.in/dbin3hnh And let's not forget – even though we celebrate World Environment Day today – let's take care of our planet every day. ✅ #WorldEnvironmentDay #sustainability #EPICPlanet

The IPLC Conference was the next destination for Matt Johnston and Andy O'Brien as they headed to Amsterdam for the PLMA. IPLC hosted a great knowledge sharing event, with their research "The Price is Right?" headlining the event. https://lnkd.in/d-NecTjU 📊 Following the presentation by Malachy O'Connor of the results of the survey, which showed how retailers were managing inflation, competing with hard discounters and driving differentiation, we were treated to great presentations from Koen de Jong (IPLC) on venture brands, Mark Helder, Senior Director at Simon-Kucher on finding the optimal way for manufacturers to manage their production, Remy MEDINA on managing online, Andrew Moriarty (Mintec) on tracking commodity pricing and buying effectively, finishing with Vibeke van der Bilt and Fleur Randag from Picnic grocery deliveries, on their private label brands which are rewriting many rules of FMCG packaging.  👨🏫 Our CEO, Matt Johnston, presented on the opportunity for Private Label suppliers to turn the tables, and lead the innovation program with insights driven by data that retailers don't have the time and space to use. He introduced Conjoint Methodology, and demonstrated its use in innovation, recipe formulation, and in identifying the fair prices that the consumer is willing to pay for the utility of the innovation. 📈 We then headed to PLMA to enjoy the free samples that are currently fueling Private Label's share growth at the expense of brands in European Retail. Many thanks to Koen and Malachy for this invite. 💯

Many thanks to the team at EPP - Pricing Platform, who hosted a great event where everyone shared in the challenge of driving the #TripleWin of growth for retail partners, great product consumers, love and growth for the manufacturer. 💯 There were a great mix of attendees - some like Michaël Horn (L'Oreal) and Boyan Nikolov (Philip Morris) at a very advanced stage, and others beginning their journey - looking for ways to educate their leaders on what NRM is and the valuable role it should play in organisations that have ambitious growth plans. 📊 Our Commercial Director FMCG & Retail Andy O'Brien presented EPIC Conjoint's case study in conjunction with Lydia Cummins from Danone Ireland, showing how our mission to replicate the instore environment can improve the accuracy of Conjoint analysis by 10%, bringing into a region +/- 10% vs actuals, which ensures it can be a key part of decision making for price pack architecture and innovation planning. Well done to those who presented, especially Tuomas Penttinen (Arla), Kaj-Dac Tam (Orkla), Wendy Janssen (Mars), Julian Puczyniec (Kimberly Clark), Tom Marriage (Bayer) as well as Murat Derindere & Ebru Dolunay (Unilever), Arthur Hobhouse (Financial Times) and James Hooton & Ana Margarida Gomes, who all shared valuable real case studies for others to learn from. 👏 We look forward to the EPP Global Retail and EComm forum in 2024.  #EPPFMCG #RevenueGrowthManagment #SmartPricing

𝐋𝐨𝐬𝐭 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐎𝐓𝐂 𝐏𝐡𝐚𝐫𝐦𝐚: 𝐇𝐨𝐰 𝐏𝐫𝐢𝐜𝐢𝐧𝐠 𝐒𝐢𝐥𝐨𝐬 𝐜𝐚𝐧 𝐃𝐫𝐚𝐢𝐧 𝐁𝐢𝐥𝐥𝐢𝐨𝐧𝐬 𝐀𝐧𝐧𝐮𝐚𝐥𝐥𝐲! 𝘚𝘱𝘰𝘵𝘭𝘪𝘨𝘩𝘵𝘪𝘯𝘨 𝘵𝘩𝘦 𝘱𝘰𝘵𝘦𝘯𝘵𝘪𝘢𝘭 𝘳𝘦𝘷𝘦𝘯𝘶𝘦 𝘭𝘰𝘴𝘴 𝘢𝘯𝘥 𝘪𝘯𝘦𝘧𝘧𝘪𝘤𝘪𝘦𝘯𝘤𝘺 𝘳𝘦𝘴𝘶𝘭𝘵𝘪𝘯𝘨 𝘧𝘳𝘰𝘮 𝘪𝘴𝘰𝘭𝘢𝘵𝘦𝘥 𝘱𝘳𝘪𝘤𝘪𝘯𝘨 𝘵𝘢𝘤𝘵𝘪𝘤𝘴 𝘪𝘯 𝘵𝘩𝘦 𝘖𝘛𝘊 𝘗𝘩𝘢𝘳𝘮𝘢 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺     The global OTC pharmaceutical industry market is projected to reach $201.4 billion for 2024. Sounds impressive, right? However, it should be borne in mind that things that can threaten the revenue of OTC pharmaceutical companies lie in the specific nature of the sector. Price sensitivity within the OTC pharmaceutical field is influenced by common factors, including economic climate, competitive dynamics, branding etc. Moreover, nuances such as dosage, medical claims, behavioral science concepts, demographic trends, online sales channels and messaging further complicate pricing decisions.   Due to the hybrid nature of blending regulated medical products with consumer packaged goods (CPGs), setting the ideal price is quite challenging:   ⬆ If you set the price too high, you risk access barriers. ⬇ Pricing too low may compromise revenue and quality perception. 🎯 If you consult EPIC Conjoint, the chances of success skyrocket How do we back up these claims? To mitigate revenue loss and inefficiency stemming from isolated pricing tactics, it is essential to adopt a comprehensive pricing strategy that integrates pricing research expertise with an understanding of CPG dynamics. This requires a robust approach that accounts for both general market factors and sector-specific intricacies, ensuring optimal pricing decisions that balance accessibility, revenue generation and consumer perceptions of quality. EPIC Conjoint conducted a detailed internal investigation analyzing over one million data points from a myriad of studies conducted in different sectors. The results showed a clear trend indicating that consumers express much lower price sensitivity values for products or services relating to health (e.g. OTC medication and supplements) and that medical claims play a vital role. Such insights can play a crucial role in the pricing strategy for any OTC pharmaceutical company.   EPIC Conjoint offers solutions tailored to the needs of OTC pharma companies, providing accurate and actionable insights to optimize pricing decisions. By simulating real purchase experiences, companies can more accurately predict consumer responses to pricing changes, new product introductions or promotions. #pharma #smartpricing #conjointanalysis

🌍 After the EPP FMCG/CPG Pricing Forum in Lisbon this week, experts from EPIC Conjoint continue to travel throughout Europe to share their Pricing knowledge and professional experience.   👨🏫 Our CEO Matt Johnston, along with Andy O'Brien, Director Retail & FMCG at EPIC Conjoint, will give a lecture on Powering the Return from Innovation with Value Based Pricing at the International Private Label Consult (IPLC) seminar in Amsterdam on Monday. Where the event question ’’Is the price right?’’ will be addressed. We are looking forward to sharing as well as hearing others' insights related to #SupermarketPricing. 🛒 See you on May 27 in Amsterdam. 🌷