Marginal Willingness To Pay is a chart available on OpinionX conjoint analysis surveys, which shows you how much a customer would be willing to pay to change one aspect of a product or offering:
The chart is available to all users (including on OpinionX's free tier), requires no manual calculations or advanced setup, and is interactive for easy customization.
This chart only works if your survey includes a Conjoint Rank block with a correctly-configured price category and your survey is on one of OpinionX's premium pricing plans.
For example, in the screenshot above, In the screenshot example, the "baseline product" is a Google Pixel smartphone with 256GB of storage (ie. the rows with no bar on the bar chart), and the chart shows us that customers are willing to pay $150.63 extra to get a Google Pixel with 512GB of storage instead. Here's how you can read that from the chart:
How are these numbers calculated from the pricing data? That's where the line chart comes in...
This line chart shows price points from the survey on the x-axis and preference scores on the y-axis. Each point is a specific price from the survey (eg. $419 had a preference score of 24.02). A trendline is plotted between these prices and that is used to calculate the marginal utility per dollar, which basically means "how many extra dollars on the price results in -1 point on the preference score".
By looking at the score difference between options (256GB vs 512GB storage), we can use this marginal utility per dollar to calculate the financial value customers associate with upgrading here.
When viewing this chart, you can change which option in each category is considered the "baseline" by either (a) clicking a new bar on the bar chart to make that option the new baseline, or (b) using the Configure button at the top of the chart. The Configure window also shows some important data about the trendline used as the basis of the financial calculations.
