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Determining the optimal pricing and bundling of features for a new educational product

06/07/2020

Sommersemester 2020 - Studentisches Start-up Projekt

EXECUTIVE SUMMARY

Goal

The purchase of educational products largely depends on the ability and willingness of the educational institutions to pay for new didactic material. In addition, it is necessary to examine customers´ feature and function expectations from digital products that are anticipated to possibly replace existing printed materials. Therefore, the goal of this project was surveying vocational institutions in the D-A-CH region and to deduct the optimal pricing and bundling strategy for a new digital learning product.

Methodology

The project team contacted a large number of decision makers and teachers of schools in the D-A-CH region. Through web-based surveys, the team conducted a Conjoint Analysis, combined with the Van-Westendorp's price sensitivity meter in order to gain insights into customer needs and pricing and bundling preferences.

Results

Through an analysis of the gathered data, the team identified different levels of the optimal price in the surveyed countries. Equally, also preferences for product features showed local variations, which need to be taken into account for the sales and marketing of the product. Overall, the survey shows that the surveyed schools certainly want to embrace digitalization, but it is crucial to understand on which stipulations.

Cooperation Partner

  • FESTO Didactic SE
    Rechbergstraße 3
    73770 Denkendorf
    Deutschland

    www.festo.com

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Contact Person

  • Dr. Ute Gebhard
    ute.gebhard@festo.com

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Student Team

  • Philipp Krb
    Matthias Bruckner
    Miroslava Palesova
    Florian Pühringer
    Elisabeth Stüber
    Ann-Kristin Schnell
    Yana Reznyk

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Project Managers

  • Caroline Fabian, M.Sc.

  • Shtefi Mladenovska, M.Sc.

  • Klaus Marhold, Ph.D.

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