Deloitte’s Virtual Product and Price Optimisation Platform (VPOP) Solution has been saved
Deloitte’s Virtual Product and Price Optimisation Platform (VPOP) Solution
Deloitte’s VPOP is a bespoke innovation platform that leverages discrete, choice-based conjoint analysis to enable clients to insightfully adapt their product & price strategies and stay ahead of their competition. VPOP enables clients to optimise revenue and GTM expenditure by reaching the right customer with the right product at the right price.
Overview of the Solution (VPOP)
VPOP is a tool that quantifies customer choice, preferences and price elasticity by simulating a realistic purchasing environment. It enables clients to run risk-free pricing and product scenario tests in order to optimise revenue.
VPOP provides Business Value in 5 distinct ways. It
- Increases ARPU
- Increases ROMI & ROI
- Helps you understand and quantify customer decision drivers across segments;
- Optimises revenue by leveraging pricing and customer reach
- Increases innovation accuracy & speed
Implementation and results
There are four steps in the implementation process.
1. Conduct workshops to Customise VPOP
• Define the scope and need
• Customise questions
• Test tool and statistical validity
2. Conduct market research
• Administer VPOP platform to market.
• Conduct regular data quality checks
3. Run analytics
• Automatically run in back-end
• Calculate attribute preference, feature utility, price elasticity etc.
4. Insights and Recommendations
• Report on insights and create actionable recommendations
• Can provide impact simulations