Conjoint.ly Releases New Prediction Markets Tool for Product Testing
FOR IMMEDIATE RELEASE
Further information: https://conjoint.online/prediction-markets
Sydney, 28 February 2018 - Conjoint.ly, a Sydney-based technology company, has launched its Prediction Markets, an automated tool which allow its global clients, which include insights, marketing and product managers within Fortune 1,000 companies, to run agile tests of new product ideas, advertising materials, and packaging.
Prediction markets are a fairly well-tested technique that comes from behavioural economics and the world of political betting. They draw upon the aggregate wisdom of the market to predict future trends and market preferences. The tools provides users not only a quantitative assessment to support or reject an idea, but also the reasoning behind the predictions participants make in the market.
Conjoint.ly’s prediction markets are applicable to various research problems including preliminary idea and concept testing, validation of product attributes, brand communication and advertising, and identifying market trends.
Moreover, the product runs on a brand-new chatbot-like interface, which has been proven to deliver high level of engagement with the respondents. The new template will significantly reduce respondent fatigue and therefore, greatly enhance the quality of response associated with each predictions.
According to Nik Samoylov, Founder of Conjoint.ly, “Prediction markets have for a long time been considered a promising technique for market research. A few full-service providers have been serving clients using this methodology. However, wider adoption is only possible is managers and researchers have an easily accessible tool. Conjoint.ly is finally offering one.”
Learn more about prediction markets on Conjoint.ly: https://conjoint.online/prediction-markets
Conjoint.ly is developing a set of automated pricing and product research methods offered directly to insights departments, product and marketing managers. The suite addresses the most common pricing and product research problems and is supplemented with expert support and guidance from experienced researchers.
Conjoint.ly was founded by Nik Samoylov, a former consultant at top-tier management consultancy Bain & Company. Nik, in his previous consulting role, saw companies make big decisions about pricing and products based on ‘gut feel’ and assumptions.