BUSINESS SITUATION
Post-pandemic, companies shifted toward more collaborative spaces, prompting the client to gain insights on:
- Pre-pandemic, current, and future usage trends of meeting room spaces in medium and large companies.
- Budget allocation strategies and the availability of decision-makers overseeing these allocations.
- Optimal pricing range and willingness to pay for new/upgraded meeting room technologies, including price-value perceptions.
SGA STRATEGIC APPROACH
SG Analytics designed and conducted an in-depth online survey covering 1,500 key decision-makers across North America, Europe, and Asia Pacific. The survey focused on:
- Investments in meeting room technologies and budget allocations.
- Engaging C-level executives, IT decision-makers, and procurement professionals.
Key areas explored:
- The impact of COVID-19 on office environments and meeting spaces.
- Budget allocation and investment plans for meeting room technologies.
- Decision-making timelines and key purchase drivers.
ENGAGEMENT
Price Sensitivity & Willingness to Pay Analysis
- Applied Van Westendorp’s Price Sensitivity Meter to assess the optimal price range for various meeting room technologies.
- Identified acceptable price thresholds to determine the ideal pricing window for new product offerings.
- Conducted a breakpoint analysis to segment decision-makers into budget constraints, company size, and industry-specific investment trends.
- Evaluated cost vs. perceived value trade-offs to refine pricing strategies, discount structures, and competitive positioning.
- Provided insights into price elasticity to reveal demand fluctuations based on price variations.
BENEFITS & OUTCOME
- Helped the client understand post-pandemic shifts in workplace practices, office environments, and meeting space utilization.
- Provided insights into organizations’ evolving strategies to reduce workspace and optimize meeting room technology investments.
- Gathered valuable awareness, consideration, and perception data on meeting room technologies.
- Delivered key data on customers’ willingness to pay, enabling the client to determine the optimal price range.
KEY TAKEAWAYS
- Companies are adopting a hybrid work model, impacting meeting space requirements and technology investments.
- Businesses seek cost-effective yet advanced meeting room solutions to enhance collaboration.
- Understanding budget allocation patterns across industries helps optimize pricing strategies.
