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Comparative Willingness-to-Pay

A Comparative Willingness-to-Pay (CWtP) study provides insight into what customers are willing to pay for a product or service, as well as direct competitors. It is quick to set up and provides a virtual demand curve that shows an optimal price based on units sold, revenue, and margin.

PriceBeam Comparative Willingness-to-Pay is part of the PriceBeam RGM360 Solution

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Comparative Willingness-to-Pay

What is a CWtP study?

A comparative Willingness-to-Pay study helps understand consumers' WtP for up to 12 products (including competitors) and unlocks insights into how to optimize Volume, Revenue, and/or Profit.​ CWtP methodology combines popular scientific methodologies Van Westendorp, Gabor Granger, and Newton-Miller-Smith and Machine Learning providing a more robust and complete survey and actionable insight. Customers will gain insight across the overall sample of a market-tested as well as the opportunity to create key segments such as channels, retailers, specific demographics, and more to unlock powerful insight to tailor their pricing strategy accordingly.​

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Unlock new potential

A Comparative Willingness-to-Pay study offers key insights to help set competitive prices, maximize profits, and align with consumer expectations. It reveals important pricing factors such as pricing thresholds, psychological price points, price cliffs, and brand premium perception.

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Challenges it Solves 

New Product Pricing

Do you need to price a new product or service? What features make customers willing to pay more? What is the optimal price?

New Concepts

Are you charging the right price for a product or service? Could you charge more? Without losing overall revenue?

Price Increases

How do you implement a successful price increase? How big an increase can your brand justify? What are customers willing to pay?

PPA Analysis

What should the price be vs competition? Do customers agree with that position/premium/discount versus the competitive alternatives?

Who a CWtP study is for:

RGM Teams:

Revenue growth teams will benefit from using a CWtP to help with pricing strategy, price pack architecture, price planning and execution. 

 
 

Insight Teams:

The insights team benefits from a CWtP study as it makes it easier to run pricing insights and provides the organization with detailed robust reporting.

Innovation Teams:

A CWtP study will help innovation teams with the development of products and understand how consumers will react to any new product development or concept.

Industries that benefit from CWtP:

FMCGs/CPG

Beverages

Apparel

Cosmetics

Home Care

Food

Pet Food

 

Consumer Electronics

 

Veterinary Products

Achieve your RGM goals

Holistic Approach to RGM

PriceBeam uses a holistic approach to achieve your revenue goals by integrating pricing, product, promotion, and various strategies across the organization to optimize all the factors that drive revenue growth. This approach provides users with a complete 360-degree view of revenue.


Advanced Insights

Leverage the power of data. Simplify data management with automated systems that load your data into a data repository, reducing manual input errors and increasing efficiency. Use world-class reports provided by PriceBeam experts to identify price opportunities or revenue issues.

Speedy Global Delivery

Results are available in as little as a day and never more than a few weeks, regardless of complexity. PriceBeam's cloud platform also delivers results 24/7 Globally in 127 markets.

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