As an intrinsic part of the product and promotional mix, price is an important indicator used by consumers to gauge their fit with a market offering. Depending on the product and market, price can influence perceptions of quality, exclusivity, thrift, practicality, and good value.
And while marketers often know the role they want price to play with an offering, research in this area addresses the importance of setting the right price based on consumer expectations in the target market.
Setting the right price can often be a bit of an art and a science. StratatMark applies proven quantitative methods to address the science, and we work closely with our clients to understand their business to assist with the art aspects, as well. This allows us to develop the most efficient design to obtain desired pricing information, including projections of purchase interest, volume, and revenue as appropriate.
Our design and analytics in the realm of Pricing Research include the most proven and productive methodologies. For some examples of our thinking and work in the area of Pricing Research, please click on the hyperlinks below (to view in PDF format):