Pricing Research
What is Pricing Research?
Pricing Research provides you with the customer information you need to make informed pricing strategy decisions. Whether you are planning to increase prices or thinking to price a new product, research is the key to effective pricing strategy.
There are two key benefits of conducting pricing research:
(i) the prediction of consumers’ response to price changes, and
(ii) the discovery of psychological effects of price points on sales (demand).
When used correctly, pricing research is able to predict customer perception of the new price, and as the result, what impact a price increase may have on revenue. Sound pricing research can be the difference between a successful product or service or a flop.
Read more about pricing research best practices.
Types of Pricing Strategy Research
Pricing Market Research
Pricing Research can go a long way in helping you discover and create new opportunities for your business. We work with you to find the answers to your specific pricing questions, implementing pricing research best practices along the way. With over 700 projects completed in 25+ industries, our team has the experience to manage the most complex customer pricing research projects.
Pricing Research Solutions for New & Existing Products/Services
- New Product Innovations
- Moving to a Subscription Model
- Promotion Effectiveness
- Product Line Price Optimization
- Portfolio Management
- Competitive Response
- Menu Bundling & Optimization
Customer Pricing Research – Understand Your Customers Through:
Price-Volume Optimizer
Perception vs. Sensitivity
Value Map
Pricing Intelligence Dashboards
Pricing Power Assessment
Segmented Customer Interviews
Pricing Research Methodologies and Tools
Our multidisciplinary approach to pricing research incorporates components of behavioural economics, econometrics, finance, market research, marketing and psychology. Customizing the combination of research methods to answer your business, customer and pricing questions.
Our Pricing Research Methodologies & Analytics Include:
Conjoint Analysis: Choice Based, Menu Based, Adaptive, Max Diff, Modified Discrete Choice
– Financial Value Measurement
– In-Depth Interviews
– In-Person and Online Focus Groups
– Monadic Price Tests
– Mystery Shopping
– Online Bulletin Boards
– Price Perception Measurement
– Segmentation Analysis
– TURF Analysis
Pricing Research Articles
Contact Us for a Pricing Research Project
Iris Pricing Solutions is one of the worlds’ leading pricing consultant and pricing research firms. We are dedicated to helping clients tackle their specific pricing challenges and dramatically grow profitability. Our consultants have extensive experience in B2B and B2C markets within a wide range of industries.
For more information about our pricing research services or to get in touch with one of our consultants directly please contact our global headquarters.