The situation

Our client wanted to understand farmers’ reactions to various price points for new corn seeds. Other topics, such as purchase influencers, current agronomic practices and concept evaluation, were researched to provide a holistic understanding of the market and farmer perceptions.

Our approach

  • Hundreds of quantitative interviews were carried out with a representative sample of different types of corn farmers
  • Discrete Choice Modeling (DCM) and Perceived Value Pricing (PVP) techniques were used to derive price points to optimize revenue
  • Current practices, drivers and barriers to adopting a new seed were also researched, as well as much cost-benefit the seed could provide
  • Perceptual mapping was carried out to assess farmer perceptions of the performance of various seed varieties

Business outcomes for the client

  • Our research helped the client to predict the impact of introducing new corn seeds into the market
  • The study helped the client define their pricing strategy for the new corn seeds
  • It further helped them understand the possible cannibalization and impact on share of other brands once the new seeds were launched
  • The research also provided guidance for marketing communications, to help develop a customer-centric brand message that clearly communicated the seeds’ core benefits