Pricing Research
Effective pricing strategy is important in driving consumer
purchase intent, product trial and repeat purchase. The price-value
relationship is a critical aspect of overall brand identity.
MRSI understands that to make the best pricing strategy
decisions you need a complete understanding of the impact of price
on consumer choice and we will partner with you to develop the best
marketing research approach.
We offer a wealth of experience and a range of pricing research
techniques to help you:
- Determine new concept or product pricing
- Identify key drivers of price-value perceptions
- Determine price elasticity and price optimization
- Develop market segment pricing
- Develop distribution channel pricing
- Identify opportunities for bundled/unbundled pricing
- Evaluate discount/promotion pricing strategy
- Identify product feature/benefit and price trade-offs
- Evaluate pricing strategy for mature products
Each project begins by gaining a thorough understanding of your
pricing strategy research objectives and business issues. We then
develop a customized approach that often mixes secondary data,
qualitative research and quantitative research including analytical
techniques such as:
- Van Westendorp Model
- Independent Monadic Evaluation
- Regression and Correlation Analysis
- Discrete Choice Modeling
- Conjoint Analysis
- Hybrid Modeling
Contact
MRSI for more information on Pricing Research today!
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