Drive Research is a full-service market research company, specializing in quantitative and qualitative methods to evaluate pricing strategies for B2B and B2C organizations. We are a team of highly experienced research analysts capable of designing, fielding, executing, and analyzing, several types of pricing market research. Here are just a few of the services we offer.
An online survey can be a great way to collect reliable data for pricing research quickly. You’ll need a complex approach for surveys to develop the right questions (for the best data). From writing the pricing survey questions to the data analysis and reporting at the end, we’ll do all of the heavy lifting for your pricing research survey.
A conjoint analysis study can be conducted via many survey research platforms available today, either as a pre-built tool or a custom-built experimental design. It’s similar to the way we would run an online survey but with a much more directed and specific approach (specific to conjoint analysis type of questions and project setup).
While less popular for pricing research, focus groups can bring a unique opportunity to collect in-depth data and explore pricing opportunities. It offers a more flexible approach for questions which can lead to more complex learnings and the discovery of new considerations. As a full-service research firm, we offer qualitative recruitment services in addition to custom focus groups and in-depth interview methods.
This pricing research technique involves asking respondents four key questions to determine price points where a product is perceived as too low, a bargain, expensive, or too expensive. We use this model to identify the optimal price range that maximizes perceived value and consumer acceptance. Our clients find this technique valuable because it offers clear insights into how price affects consumer perception and helps set competitive and profitable pricing strategies.
The Gabor-Granger Pricing Model is a direct pricing technique where we ask respondents about their purchase intentions at varying price points, with the price being adjusted incrementally throughout the survey. This method helps our researchers gauge price sensitivity and identify the optimal price for maximizing sales. It is useful for those curious how different price levels impact consumer demand and willingness to buy.
With conjoint analysis, we can evaluate how different product features, including pricing, influence consumer preferences by presenting respondents with various product configurations to choose from. This technique helps determine the value customers place on each attribute and how they trade off between price and other features. With this insight, we can provide the ideal combination of product features and pricing that will maximize consumer satisfaction and profitability.
We are firm believers in leveraging market research to gain a comprehensive understanding of how price influences consumer behavior and purchase intent. It empowers businesses to make data-driven pricing decisions and develop strategies that align with customer expectations and market dynamics.
Pricing market research helps businesses identify the optimal price point that maximizes both profitability and customer satisfaction. By understanding consumer perceptions and price sensitivity, companies can set prices that align with market expectations and enhance their competitive edge.
By determining the most effective price ranges, businesses can increase revenue and profit margins. Research-driven pricing decisions reduce the risk of setting prices too high or too low, ensuring that products are priced to capture the maximum value from consumers.
Pricing research provides insights into how different price points affect the perceived value of a product or service. This helps businesses position their products effectively in the market, tailor their marketing strategies, and differentiate their offerings from competitors.
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