The primary objective of pricing research is to establish the optimal price of a product. Our tools take account of the actual decision context, the customers’ price knowledge and the dynamics of the market.
If little prior knowledge exists or the products are new, it is necessary to use techniques that generate realistic price points among the respondents. Direct methods to determine a subjective price range are Gabor Granger or Van Westendorp. Then there are the indirect techniques which we display with ALASCA|PRO, our conjoint analysis tool. By using the appropriate interactive interface, we are able to put a monetary value on product attributes, realistically map market scenarios based on the customers’ assessment, and perform “what if?” analyses.
In value-based pricing approaches, the prices are mainly fixed according to the perceived or estimated value of a product for the customer. This particularly applies to products with a high emotional benefit or scarce availability.
Senior Research Consultant