Pricing Research
Appropriately pricing a product is critical to its success and
profitability. To make the best pricing strategy decisions, you
need a complete understanding of the impact of price on consumer
choice.
MRSI understands how important an effective pricing strategy is
in driving purchase intent, product trial and repeat purchase 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 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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