Quantilope publishes a new practice guide for professional, automated pricing research. The guide explains techniques that brands can use to set the right price point to accommodate rising costs, and protect their business from losing market share.
The guide explains advanced, automated pricing research methods for optimal, informed pricing of products and services as well as consumers’ price perceptions and willingness to pay. The guide covers the methodological approaches, usage as well as application examples of automated pricing research for brands. This new guide is particularly relevant for insights and marketing managers of B2C brands.
With the recent rise in the cost of energy, materials and raw materials, as well as increasing inflation, professional pricing research is becoming increasingly important for brand pricing strategies. To enable brands to conduct research at the speed that’s needed to respond to this pricing challenge, quantilope has automated two of the commonly leveraged and powerful research methods for brand pricing: Choice-Based Conjoint Analysis (CBC) and the Price Sensitivity Meter (PSM), also known as Van Westendorp Method.
Automated pricing research provides brands with information and a deep understanding of their target audience, what price they can realistically charge in the marketplace, and how much consumers are willing and able to pay for products and services. The pricing research methods also contribute to innovation pricing, market launches and rebrandings of new and existing products.
The guide can be downloaded free of charge on quantilope’s website.