Pricing Research

Pricing research is used to help a company answer the question: “Are we charging the right price?”

Relevant questions:

• At what level do we maximize profits?
• Will customers still buy if we raise the price?
• Are there certain product features we can eliminate to lower prices for consumers?
• Will price decreases maximize market share?

 

How does pricing research benefit my company?

MDRG goes through a rigorous research process that examines client and competitor purchases to discover what consumers are willing to pay for a particular product or service. Discrete choice analysis is one technique used to determine the tradeoffs consumers make in purchasing decisions. It reveals which features customers consider to be the most important.

Pricing research will provide insights to:

• Identify optimal price points
• Modify pricing strategy
• Gain consumer insights about tradeoffs between price, quality, and specific product features that are important to them       

• Advertising/
  Creative Testing
• Attitudes, Awareness
  and Usage
• Brand Image/
  Brand Equity
• Customer Retention/
  Win-Back Research
• Customer Satisfaction
  and Loyalty
• Market Sizing/Market
  Potential Research
• Package Design
• Positioning Research
• Pricing Research
• Product Design/
  Concept Testing
• Segmentation Research