Research on Complex Solar Panel Offerings Requires Creativity
Our client, a major solar panel company, had been expanding rapidly thanks in part to government-funded subsidies which encouraged consumer adoption.
The solar panel marketplace then became congested with many small and unknown brands, which resulted in slower growth for our client. The client was seeking to identify the best opportunities for growth with current customers, as well as how to acquire new customers while working with a limited budget.
Due to the highly technical nature of the product and the differentiators between potential offerings, Phoenix MI determined that a standard conjoint approach would not be feasible for this project. As a result, Phoenix MI developed a survey instrument that immediately exposed the respondents to current and potential new offerings, which allowed us to gauge individual interest while ensuring an understanding of the intricacies associated with each offer. Upon completion of the upfront exercise, the respondent moved through a conjoint exercise.
The study results emphasized the need for clear and simple communication of current product offerings, as even current customers did not adequately understand the differences and features of various products. Additionally, the conjoint simulator informed our client’s short and long-term planning on feature development, deployment, and pricing.