Results of showing price in customer facing product configurators

Whitepapers and Research

Rajan Sambandam, of TRC, has an interesting study outlining the outcome of showing price to customers while they complete product configurations.

As seen on Table 1, between a third and a half of the respondents stay with the basic package on every feature and opt not to modify anything. The most frequent modification is the reduction of the comprehensive deductible to $250 (at a cost of $19), while the least attractive modification is the No increase in premium for up to 2 accidents in 3 years. The latter does carry a stiffer price tag ($56) that may make it unattractive.

This interesting product configuration article is complete with data and a description of the five user segments they identified.

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