METHODS FOR PRICING RESEARCH
Several different research methods are commonly used in pricing research—each with their own strengths and weaknesses. This document discusses five techniques that are commonly used by survey researchers: 1) Direct willingness to pay questions; 2) Concept tests; 3) van Westendorp price sensitivity meter; 4) Ratings-based conjoint analysis; and 5) Discrete choice modeling.

VAN WESTENDORP: PRICE SENSITIVITY METER
Though the Price Sensitivity Meter is often thought of as a tool for selecting the “Optimal Price Point” for a product, this application is neither theoretically nor practically appropriate. Despite this, we have found that the questions can provide useful diagnostics on current price perceptions in a market.

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