- Are you charging the right prices?
- What is seen as value and what isn’t?
- How do ‘expected’ prices differ across brands?
- Can consumers accurately remember prices?
- Would a price change surprise them?
- Will that extra feature allow higher prices, or don’t they care?
- Could increasing prices increase profits when traded-off against lower revenue?
- Does the drive to increase market share damage profits?
- What is the theoretical elasticity of demand?
- Is maximising market share by lowering price a sound strategy?
- What would happen if a price war errupted? Should you ignore competitors or respond?
The solution to pricing issues
Anonymous pricing surveys, that integrated the right questions coupled with the right statistical analysis provide the answers you need.Case study
A client wished to enter a new market as part of a brand extension. Using a sophisticated conjoint analysis technique it was determined that their new product would had a very different price elasticity of demand to the market leader, and that the client would need to take a different approach to pricing in the early stages of market entry.