Managing the Challenge of Choice

How can you as a manufacturer of a product or provider of a service with thousands, or even millions of potential variations choose the combinations that appeal most to your target audience while staying within the acceptable price range?

The Solution

SOCO™ analytics will help you to identity the most preferred product variations to offer your customers. With this unique suite of decision-making tools, Morpace marries the robustness of configurator-collected data to complex analytic processes. Using the Internet, national or geographically targeted samples can be obtained easily and economically. SOCO™ research will help you take your product or service from concept to customer in the combinations that best combine popularity and profitability.

SOCO™ Helps Morpace Clients:

• Reduce product or service complexity and cost
• Simplify the customer’s purchase process
• Identify features or benefits with specialappeal, as well as those that can be dropped due to low interest
• Increase customer post-purchase satisfaction
• Optimize perceived quality and value

The SOCO™ Suite of Analytic Tools

Morpace uses these tools to compare and validate everything from single offerings to complete portfolios, from one or two “best” product configurations to product lineups encompassing many choices or alternatives.

• The Coverage Metric reports the percentage of the sample who can obtain a choice from a product or service offering that has all they want and nothing that they don’t want at a satisfactory price.
• The Share Forecasting Tool estimates the projected appeal of a specific product or service vs. others within an assortment.
• The Segmentation Tool classifies results by subdividing responses based on respondents’ personal characteristics and preferences.
• The Price Analyzer determines price sensitivities of individual features which is used to suggest alternative pricing and packaging strategies.
• The Package Calculator is used with factor analysis and co occurrence ratios to identify naturally occurring packages of features and their potential appeal.

The SOCO™ process is configurator-based research designed to cope with challenges beyond the resolution power of conjoint or discrete choice analysis. To optimize a large number of features or services, or a large number of fully-configured products in your portfolio, SOCO™ research is the solution. Twenty independent features, attributes, or options go together more than a million different ways. Thirty reaches a billion. Forty a trillion. Only SOCO™ research can play in this space.

Think of SOCO™ research as helping you restore discipline to your marketing process by reducing complexity in your offering and gaining manufacturing efficiency.

SOCO™ software and analytic processes are available exclusively from Morpace. Please contact us for more information.

The following case studies feature real-life client challenges and describe how our proprietary solutions provided them with significant value and strategic guidance.
SOCO - Automotive
SOCO - Telematics