HomeWhat To Expect From Price Optimization Research
Price Sweet Spots
Charge too little and people question your product quality. Charge too much and you alienate potential buyers. With pricing research, you see exactly where these swings occur to find your pricing sweet spot.
Price Elasticity
Everyone wants to pay less…but that doesn’t mean they won’t pay a premium. By understanding how sensitive people are to price, and where purchase intent actually drops off, you pinpoint how to charge people to maximize profit.
Price Trade-Offs
Price isn’t the only purchase decision factor. Most customers weigh price alongside other dimensions like features, benefits, and claims. Price optimization research “reads” these trade offs so you can assess exactly how to bundle your product to maximize interest.
When Is It Time To Perform Pricing Research
New Product Introductions
When introducing a new product in an existing category, it’s hard knowing what to charge relative to the competition.
Pricing studies let you see exactly what price point is necessary so people will buy from you.
Entering New Categories
In new, emerging categories, there aren’t established price points. Customers haven’t been anchored. Yet.
Pricing studies give you initial intel when no other pricing benchmarks exist.
Revenue Maximization
Is your goal to maximize revenue from every purchase?
If so, you’ll need to understand how much you can charge before purchase intent materially declines.
Assessing Pricing Tiers
You may want to charge different prices for access to different features.
By understanding key price-to-feature trade-offs, you can determine exactly how to structure your product and pricing tiers.
What Customers Say About Our Market Research Firm
PlanBeyond’s research enabled satisfaction benchmarking and gave our team actionable recommendations we applied to increase customer engagement and loyalty.
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Vice President Marketing, Remitly
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VP of Global Marketing, Sid Lee
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Product Manager, Puget Sound Energy
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VP & General Manager, Spire Global
Through hyper-detailed competitive landscape research, PlanBeyond helped us understand not just who our competition was but also how we could improve marketing elements to really stand out.
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Principal, Scenic
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Chief of Staff, UXReactor
More About Our Pricing Study Approach
Measure Price Elasticity Via The Gabor Granger Model
Pricing a product or service is really hard. For some, it's one of the hardest components of any go-to-market plan. Understandably so. Price a product too high and you risk customer alienation. Price a product too low and you leave money on the table. But, if you find the sweet spot, you maximize revenue and [...]
Choosing Between Conjoint vs MaxDiff Analysis
When doing product or pricing optimization work, a classic research challenges is choosing between conjoint vs maxdiff analysis. Both are excellent market research methods for letting you understand ideal feature sets or pricing to maximize purchase interest. However, they yield very different results. By looking at the difference in how each method is set up, [...]
Developing Go To Market Research
How do you avoid being one of the 90% of companies that launch failed products this year? One clear failure mitigation approach is developing a Go To Market (GTM) plan that identifies market opportunities and outlines a clear path for a successful launch. However, the most successful GTM plans are based on objective market intelligence and strategy. This [...]
