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Pricing Optimisation

£1,685

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Description

Use when you need to get an overview of product pricing across a category – from the customer’s perspective

Use this…

When you need to make annual price adjustments and want to understand what flexibility you have, who to chase and who is breathing down your neck.

Use this also when major events have taken place in your category: new products, innovations, new legislation etc.

Takes that guesswork out of managing regular price decisions, puts the focus of attention on what is changing about the customers acceptance of price rather than what your competitor’s are doing.

Hybrid pricing techniques from Research Engine take the best features from well established industry tools such as Van Westendorp, Kaiser, Brand Price Trade-off and Gabor Grainger, Turf etc. You get new benefits from old techniques.

What you get…..

A pdf report showing all brands price dynamics on one page.

Instantly see what scope you have to manage share, margin and revenue from a single overview document.

The report also exposes the competitive threats and opportunities for each brand.

Advice about minimal sample sizes to aim for:

Aim for samples over n=150 to get a good over view – if the sector is dominated by just few brands you can drop the sample to n=100.

Advice from your friendly statistician would probably be to buy the largest sample your budget can afford.

Advice about data collection methodology:

Web only (self completion) or Cati (computer assisted web interviewing)

Before we start your project, we will need some information from you about:

  • The name of the target brand and the names of up to 9 main competitors
  • The name of the product category that your brand sits in eg. Breakfast Cereals or Ladies Hats or Power Tools etc
  • The list of up to 5 customer benefits for the category  (if you have them already, these are the ways in which the customer gains advantage or profits from the purchase as defined by customer).

 

If you cannot find an off-the-shelf product solution to meet your requirements we offer two great additional solutions:

  1. CUSTOMISE OUR EXISTING PRODUCTS We are happy to take our standard products and customise them to your precise requirements (e.g. by adding extra questions or changing questions). This can be a very fast and cost-efficient way for clients to reach a perfect solution.
  1. COMMISSION A CUSTOM PROJECT We frequently carry out a wide range of custom research projects for clients – so whatever your needs please ask us.

In either case please either use the “Custom Research” option in the footer of this page OR email Chris or Mike directly with your questions:

Chris@researchengine.org

Mike@researchengine.org

Additional information

Reporting requirements?

Do you need an in-person presentation workshop or will a pdf report by sent by email (with follow up phone call) be sufficient?
Please use the reporting options in the drop down list to specify your reporting requirements?

Any questions?

Please use the contact form to let us know?

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Can I change the questions?

The questions are formulated to give you very high level of cost effectiveness. You can change the questions but this will add cost and result in delay.

Please use the contact form giving us details about the changes you are looking for. We can explain the cost and time consequences so you can decide which option is best for your situation.

Can I use it as tracking tool?

Yes, because the questions ask about current usage it is possible to run this at intervals to check if your pricing decision are having the desired effect.

What does it mean when it says Customer Benefits?

These are the benefits as perceived by customers buying products in the category. To be totally clear, these should not include product attributes. Benefits are the advantage gained or how the product profits the customer (i.e.  puts them in a better place).

What does the report look like?

A demo report is available for each product so you can see exactly what you get. All you need to do is enter the your email address so we know where to send it.

How many products can I include?

You can insert up to 10 products. Please be aware that only current users of the products will appear in the report.

Is the report really one page?

Yes, there are several questions that interact to create the report. The questions and the report are designed to give the manager single but detailed overview of the category.

How quickly will I get results?

The speed of delivery of the report will depend the complexity of the sample that you specify. For example a large B2B sample requirement may take several week or a small consumer sample may take a few days.

I have a good list, can you use it for my project?

Yes, we will sign the necessary confidentiality agreements up front and can use your list.

We cannot be responsible for the quality of the list or the response rate that we get and will have to agree up front the number of time that we recontact people.

I don’t have an email list, can you help?

We will endeavor to find a suitable email list for you. Please complete the Audience tab to tell us about your target sample. There is an additional charge for securing this list for you.

Can I just have the link/URL and run the survey internally?

At the moment the answer is no. in the future it may be possible. Today, we need both the video and the email list to run this service.

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