“The thing that should be perfect”

The aim is to find out what the customers are willing to pay and so what the optimum price point is to maximize profit or revenue or market share. We use many approaches to pricing research, the Gabor-Granger technique, van Westendorp Price Sensitivity Monitor, Brand Price Trade-off and Conjoint Analysis. The selection of the right technique ultimately depends on the problem that exists.

It isn’t easy to determine the best price point to protect profit margin but still gain market share. Our pricing studies measure purchase intent and identify product features that customers are willing to trade when it comes down to price. The points to be cleared in pricing research includes

• Price sensitivity of market
• Price that provides maximum profit
• Promotional price during market entry
• Need for pricing change
• Competitor’s strategy in pricing

Our tools in pricing studies includes

• Willingness to Pay
• Van Westendorp PSM
• Newton, Miller and Smith’s Extension to Van Westendorp PSM
• Monadic Price Testing
• Sequential Monadic Testing
• Value Maps
• Conjoint Analysis
• Elasticity Models