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Use this pricing survey template to help you find the optimal price for your products, based on Dutch economist van Westendorp’s Pricing Sensitivity Meter.
A pricing survey is a survey designed to help you determine the appropriate pricing for your product. A pricing survey will help you better understand your market, the correct price and appropriate features for your product.
Getting the price right for your product can be the difference between failure and success.
Price your product too high and people won’t buy it, and you’ll lose market share to competitors.
Price your product too low and you’re leaving money on the table! Not to mention that it can adversely affect consumer perceptions of your brand and harm profit margins to the point that you’re unable to invest sufficiently in the future.
In other words, pricing is a delicate balance that you have to get just right.
You know you’re priced right when your customers complain—but buy anyway. John Harrison, Clockmaker
You know you’re priced right when your customers complain—but buy anyway.
Nobody wants to pay more than they have to, so it’s hard to establish the right price simply by asking people, isn’t it?
Not necessarily.
Dutch economist Peter van Westendorp introduced a model, called the Pricing Sensitivity Meter, that’s been in wide use since 1976.
It works by asking four straightforward questions.
While turning van Westendorp’s Pricing Sensitivity Meter is a great start and will help form a basis for your pricing considerations, it’s important to note that pricing is a complex decision, and not one to be taken lightly.
If you’re about to embark on a consumer intelligence project, get the ins and outs by reading our Complete Guide to Survey Creation.
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With New Product Development research you’ll find out whether your new product idea resonates with the right customers, and how to position it in the market
Customer Research Principal
Elliot joined Attest in 2019 and has dedicated his career to working with brands carrying out market research. At Attest Elliot takes a leading role in the Customer Research Team, to support customers as they uncover insights and new areas for growth.
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