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Pricing Research

OnTrack PriceMentor®

 
  Our PriceMentor® can help you make better pricing decisions for your new product.  Our suite of pricing techniques gives you the confidence that your product is priced to give you a competitive advantage.

Consumers are exposed to a new product (or product concept) without mentioning the selling price. After exposure, each consumer is asked to propose the price at which the product would be a “very good value”, an “average value”, and a “somewhat poor value”.

We proceed to explore consumer interest in buying, using a number of pricing research tools, including...

. Price Sensitivity Tests: Identifying consumer perceptions of the range of prices acceptable and not acceptable to determine optimal price.

. Conjoint Analysis Technique: Measuring the different appeals of feature/price options to determine the best product-price mix to offer.

. Discrete Choice Models: Using different brand/price/feature scenarios to determine the effect of price on your products' preference vs. competitors'.

 
  "The best way to get and keep customers is to constantly figure out how to give them more for less." Philip Kotler.