Hi,
I am looking to get answers around the application of Newton-Miller-Smith extension extension to Van Westendorp PSM. I have referred to Sawtooth's method (https://sawtoothsoftware.com/resources/software-downloads/tools/van-westendorp-price-sensitivity-meter) and manual.
1. Want to understand how robust/ statistically relevant / useful is this method for deriving a demand curve/elasticity and establishing price point preference (didn't find other relevant or elaborate resources online).
2. What other assumptions/considerations should one keep in mind apart from the ones mentioned (calibration of purchase intent scale and purchase probability for end points - too cheap and too expensive)
3. From what lens should one view the results?
4. How does this compare to results derived from conjoint analysis?
Thanks in advance!