What is the ideal price for a product, a product feature or service?
A central question for every product positioning
Are you planning to bring an established product line with some technical developments on the market and/or expand the range of services or position a brand new product on the market? But what is the ideal price? At what price do I sell the most numbers, do I get the highest turnover, the maximum profit? What price strategic options result depending on the life cycle of the product and brand strategy?
Consultic pricing studies will help you to answer these complex questions.
Multivariate procedures such as conjoint analyses or – especially in the price analysis of service packs, or product benefits - menu-based choice analyses are the basis for this.
These are supplemented by classic price analyses such as the price sensitivity meter according to van Westendorp or Gabor Granger. In this way, we answer questions like:
- Prioritisation / ranking of additional services → for what services is there a higher/lower willingness to pay?
- How much more can I charge for a specific product feature / additional service / service offering? → Possibility of price increases
- Where are the price thresholds, from which price does the willingness to pay significantly decrease, when do I sell at a low price?
Using market simulation calculations, where the competition as well as cannibalisation effects are taken into account with existing products, we show you specifically:
- at what price points the highest sales are achieved
- at what price points the maximum profit is achieved
Using modern methods of data collection such as interactive CATI (respondent is actively involved, sees the problems partly on the screen), we can conduct these studies even with difficult B2B target groups / limited population. Through differentiated study approaches, we help you to optimise your pricing strategy on the market.