Capability
Pricing Research
Setting the right price is important. Too high, and demand falters. Too low, and you leave money on the table. Pricing research sets the optimal price point for your product.
Why Choose Us
The pricing consultant you can believe in
Our pricing research benchmarks your customers’ price sensitivity and how it impacts demand for your product or service. Through a pricing simulation, we help you to realize your strategic objectives, whether that is growing market share or maximizing returns.
High Quality Data
Data sourced from computer-assisted telephone interviews or video interviews – no online survey panels. Get insights from real people with real expertise.
Greater efficiency
A streamlined research process that saves time and resources, while also uncovering clearer insights.
Genuine B2B expertise
A team of B2B experts that know what’s important to you and your industry.
Use Cases
Pricing research
Value realization
Pricing consulting helps you to optimize your product pricing. The aim is to capture more value for products and services, without harming overall demand.
Growth of market share
Pricing consultants help you to understand the projected impact on market share through different pricing scenarios.
Product launch
A pricing strategy consultant makes sure that new products and solutions are priced most effectively. It helps prevent leaving money on the table or harming demand.
New pricing models
Pricing consulting firms advise on the transition to viable new pricing models, such as service-based or subscription models.
Our process
Customized pricing consulting
Every pricing study is custom-built from scratch. No more off-the-shelf research.
Step 1
Define your research objectives
An initial meeting to understand your brand challenge or opportunity to inform our research plan.
Step 2
Project kick-off
We meet with your internal stakeholders to align on the product and pricing concepts, and stimulus to test.
Step 3
Design interview materials
We custom design the interview discussion guides and/or questionnaires and edit until you sign-off.
Step 4
Interview programming and setup
This is managed by our in-house team to make sure we have ultimate quality control.
Step 5
Recruit real decision-makers
We recruit, screen, and validate the identities of relevant decision-makers in your target audience.
Step 6
Data collection
We conduct live interviews with a representative sample of relevant decision-makers.
Step 7
Analysis and reporting
We analyze the data collected by relevant variables and report clear and actionable insights in a short slide deck.
Step 8
Strategic recommendations
We provide key recommendations on how to derive value from the insights and present the findings.
Featured Blog
Why is Setting Prices Such a Complex Task?
How to price a product is one of the most important decisions a company can make. Businesses want to be competitive, while also maximizing...
Featured CAse Studies
Our pricing research experience
Faqs
Pricing consulting services FAQs
Here are some FAQs about pricing consulting services.
What is pricing research?
Pricing research uses a range of techniques and methods to inform a custom pricing strategy for products and services. Pricing consultants analyze various factors, including customer behavior and sentiment, cost structures, and competitor pricing to inform a pricing strategy. A pricing study can also include dynamic pricing strategies, price sensitivity analysis, optimal bundling, price elasticity, and evaluating the impact of pricing changes on demand through simulation.
What does a pricing study tell me?
A pricing study provides comprehensive insight into:
- The viable pricing corridor for solutions, including optimal pricing to drive volume and margin.
- How willingness-to-pay can optimize product and feature configurations.
- How changes in price can impact interest and demand (i.e., price elasticity and sensitivity), avoiding commoditization and margin erosion through better value propositions.
Why is pricing research important?
Pricing research is important for developing an optimized pricing strategy, whether that is focused on margin or volume. It identifies customers’ Willingness to Pay – where a product can command a higher price, or where it needs to be more competitive with the market. By pricing your product effectively, you can maximize profitability without adversely affecting demand to make sure money isn’t “left on the table”.
How do you conduct pricing research?
Pricing research is conducted using both qualitative and quantitative research. It often involves asking customers and prospects about the different brands and products that they use, and how much they would be willing to pay to use them.
Qualitative research provide detailed insight into what factors customers take into consideration when choosing a product, what role price plays in this decision, and what drives perceptions of value.
Quantitative research methods then measure the relative importance of product features, overall demand and interest, and willingness to pay at different price points. We leverage demand simulation, price elasticity, Van Westendorp, Gabor-Granger, and conjoint analysis to establish a clear pricing strategy. This includes how changes in pricing, pricing models (e.g., subscription pricing) and optimal product and solution bundling will affect demand and profitability.