Pricing market research
Conducting market research generally involves significant investments by the companies that commission it. The success of any market study depends on knowing exactly what to ask—and what not to ask.
At prexus, we offer the market research techniques necessary to effectively and cost-efficiently answer the following questions:
What segments exist in our potential market?
We use Cluster Analysis (machine learning) to identify the customer segments that exist in your potential market.
This allows us to detect groups of customers that are homogeneous within each segment, yet clearly differentiated from others.
What attributes do your customers consider when evaluating options in the market?
We use MaxDiff and Conjoint Analysis to identify the attributes that truly determine your target customers’ purchase decisions.
This allows us to define which features you should prioritize when designing your solutions or positioning yourself against competitors.
What is the importance of each attribute in your target customers’ purchase decision?
Conjoint Analysis quantifies the importance of each attribute in your target customers’ purchase decision process.
This allows us to estimate how each feature impacts customer preference and design solutions aligned with what truly matters to them.
What value do your target customers perceive in the solutions available in the market?
Conjoint Analysis allows us to estimate your target customers’ purchase intention across different attribute options.
These intentions are translated into scores that reflect the value customers assign to each option.
What is the price elasticity of demand in each of our target segments?
Through Conjoint Analysis and purchase intention studies, we estimate what proportion of customers would buy your solutions at different price levels.
This allows us to forecast demand in your target market and calculate price elasticity across price ranges.
Get a quote for your next pricing market research here…
FAQs
What is a pricing study and what is it used for?
It is a market research study that helps understand the behavior and preferences of your target customers, specifically their perceived value and price sensitivity.
What methodologies do you use in pricing studies?
We use quantitative techniques such as Conjoint Analysis, MaxDiff, Purchase Intention (Gabor-Granger), and Cluster Analysis.
How long does a pricing study take?
The design, execution, analysis, and presentation of a pricing study takes between 3 and 6 weeks, depending on the number of categories and surveys conducted.
What types of companies can benefit from pricing studies?
Pricing studies apply to companies operating in consumer (B2C) and industrial (B2B) markets that want to launch products or services, adjust the prices of existing solutions, or understand purchasing behavior in new markets.
Do the studies include practical recommendations?
Yes. All our studies include strategic and tactical conclusions so you can take actionable decisions.