Consumers typically evaluate product quality, benefits and features with regard to its price. To be perceived as good value for money is a critical aspect for a brand’s success. Therefore, arriving at an optimum price is crucial. Pricing research can be conducted using the relatively simpler Price Sensitivity Meter (PSM) or the more sophisticated Conjoint Analysis which helps optimize a range of key inputs apart from pricing.
Velocity MR has extensive experience in helping clients develop pricing strategies and maximize their chances of gaining optimal market share.