Solutions & Products
Pricing Research
How to price products using pricing research
Decisions about how to price products and services are crucial to a company’s success, and input from potential buyers is necessary.
We can help you implement pricing strategies that are better-informed and data-driven.
Our pricing studies in market research can also help you develop different business cases and finalize go-to-market offers.
Price and product optimization
How your product plays role in pricing
Want to know how different consumers trade-off product functionality against pricing realities? We have considerable expertise in research that leads to price and product optimization.
We also have extensive experience conducting discrete choice and related forms of conjoint analysis projects to help you fully understand what drives purchase and how much you can charge across a wide range of potential product scenarios.
Price demand mapping
How to plan and map for price demand
Know the approximate price neighborhood for your product or service, but really need to know how consumer demand could shift it?
If price is the only question, we employ techniques, such as monadic price testing, Gabor-Granger or price laddering, that allow you to investigate a customer’s willingness to buy across a series of rising price points.
This type of pricing research also helps map out demand curves so you’ll know when drops in buyer demand outweigh your desire to increase price.
Concept testing
How much is your idea worth?
Unsure of what the market might pay? Curious to know how much, if anything, buyers think your particular idea is worth?
We recommend concept testing to identify the strengths and weaknesses of your potential product, and determine consumers’ willingness to pay.
A good starting point for understanding overall price tolerances among your target audience: The Van Westendorp Price Sensitivity Meter (VW-PSM), a type of direct pricing research.
Armed with this information, you can make smarter decisions about whether or not to proceed with your idea.
Third Party Verified Clients' Recommendations
Greenbook.org, the market research industry directory, reached out to our clients and verified their reviews of TRC.
Pricing Research Case Studies
We helped these clients conduct the appropriate pricing research by applying the appropriate strategies to their needs.
Shouldn’t your market research be customized to you?
You are unique. Your business challenge is unique. That’s why your market research should be customized to work for you. Let’s talk about working together to help you find new audiences, new insights, even new ideas.
Our White Papers on Pricing Research
In our many years of applying pricing research techniques to client business challenges, we have learned a few gems along the way. Read our examination of the differences between the many survey-based approaches.
Our Blog Thoughts on Pricing Research
We have thoughts about the importance of designing a client’s pricing research to achieve realistic results and the impact Artificial Intelligence may have on the future of pricing research.