Market research case study:
Assessing value and willingness to pay for hospital equipment

Medical & healthcare client

The challenge

Our client, a global manufacturer of hospital equipment, needed research to inform the launch of its new overhead lift portfolio. Specifically to understand the appeal of the new products and base packages, as well as determine the relative value of additional features. The research also needed to assess willingness to pay for both the base packages and the additional features.

The approach

We conducted a 30-minute online or telephone survey with those involved in influencing or making purchase decisions for overhead lifts across acute care and post-acute care settings in four markets internationally as follows:

  • USA: 40 surveys, UK: 48 surveys, France: 49 surveys and Germany: 44 surveys.

We used a choice-based conjoint exercise in the interviews to gain a better understanding of which attributes had the greatest influence on the likelihood to purchase. In our analysis, we produced a simulator that allowed the client to input specific packages and observe the impact on market share.

The results

Using the simulator together with the price curves for willingness to pay, and with knowledge of competitor offers, the client was able to simulate 'real world' competitive environments with its different packages, and observe the impact on choice and, hence assumed market share. We also extracted the pricing data from the conjoint model to produce price curves that could be used to model willingness to pay, as well as impact on margin and revenue at various price points.

Assessing value and willingness to pay for hospital equipment case study image 1 Assessing value and willingness to pay for hospital equipment case study image 2
Assessing value and willingness to pay for hospital equipment case study image 2
Assessing value and willingness to pay for hospital equipment case study image 1

Case study:
Assessing value and willingness to pay for hospital equipment

Medical & healthcare client

The challenge

Our client, a global manufacturer of hospital equipment, needed research to inform the launch of its new overhead lift portfolio. Specifically to understand the appeal of the new products and base packages, as well as determine the relative value of additional features. The research also needed to assess willingness to pay for both the base packages and the additional features.

The approach

The results

Using the simulator together with the price curves for willingness to pay, and with knowledge of competitor offers, the client was able to simulate 'real world' competitive environments with its different packages, and observe the impact on choice and, hence assumed market share. We also extracted the pricing data from the conjoint model to produce price curves that could be used to model willingness to pay, as well as impact on margin and revenue at various price points.

Assessing value and willingness to pay for hospital equipment case study image 2
Assessing value and willingness to pay for hospital equipment case study image 2