Final answer:
A conjoint analysis or Van Westendorp Price Sensitivity Meter are market research methods that could be used to determine at which price point builders would switch to a new whole-house weather blanket. Mathematical models may aid in estimating and comparing various pricing strategies.
Step-by-step explanation:
To determine the price point at which builders would switch to Quality Building Materials Inc.'s new whole-house weather blanket, a market research method should be employed. Specifically, a conjoint analysis could be highly effective. This statistical technique is used to understand how buyers value different attributes of a product, which in this case would be price against other factors such as durability, efficiency, and brand familiarity. Alternatively, a van Westendorp Price Sensitivity Meter, which is a survey-based approach, could also be used to determine acceptable price ranges directly from potential customers.
Similar to the concept of testing a new laundry detergent on consumers, companies can test the market by examining the proportion of builders who would prefer the new weather blanket over existing solutions. Mathematical models may come into play to estimate costs associated with different pricing strategies and determine how those prices might impact consumer decision-making. These calculations would involve normalizing costs to ensure an appropriate comparison base, such as cost per thousand square feet to align with industry norms for building materials.