Comparative Willingness-to-Pay
Research what your customers in a given market are willing to pay across several products or services. Compare results analyze differences in WtP, and swiftly assess what customers in a specific market are willing to pay. This study addresses diverse pricing challenges, offering insights for setting the right price, enhancing the implementation of price increases, establishing prices for new products, testing the impact of new concepts on customer willingness to pay, and strategically positioning prices in a competitive market.
PriceBeam Comparative Willingness-to-Pay is part of the PriceBeam RGM360 Solution
Challenges it Solves
Setting the right price
Conducting a Comparative WtP analysis, helps you move beyond guesswork and set prices with confidence. Understanding what customers are willing to pay provides a data-driven foundation for your pricing decisions, ensuring that prices align with customer value perceptions.
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Implementing effective price increases
With this analysis, you can assess how changes in pricing may affect customer behavior. This insight enables more effective implementation of price increases by identifying acceptable thresholds and minimizing the risk of customer pushback.
Setting prices for new products
You can set prices for new products by gauging customer reactions and willingness to pay. This ensures that the pricing aligns with market expectations and positions the new product competitively, maximizing its market penetration and acceptance.
Testing new product concepts
Utilizing Comparative WtP analysis provides you with a method for testing new product concepts and their impact on customer perceptions. By gauging the potential value customers associate with new features or offerings, you can refine your product concepts and pricing strategies before launch.
Benefits Comparative Willingness-to-Pay Study
We use a mix of smart methods to find just the right quantities, prices, and margins that work best for your business.
Data-Driven Pricing:
This analysis ensures data-driven pricing decisions, aligning prices with customer expectations and maximizing revenue potential in competitive markets.
Informed Product Concept Testing:
You benefit from testing new product concepts, gauging customer willingness to pay, and refining offerings before launch, minimizing the risk of misalignment between customer expectations and pricing.
Strategic Pricing for New Products:
Assess customer reactions to set prices that align with perceived value, facilitating successful market entry and accelerated adoption.
Effective Price Increase:
By understanding the impact of price changes on customer behavior, you can implement increases more effectively, identifying acceptable thresholds and minimizing customer resistance for a smoother transition.
How Does It Work
PriceBeam’s solution conducts extensive market research, collects and analyzes data before delivering a detailed report on your customer’s willingness to pay. This data will enable you to stick out from the competition, maximize profit, and set prices that aid your long-run brand positioning.
Define offering & target market
Conduct market research
Analyze
Report
Available in 127 countries
Run the analyses in 127 countries around the world without leaving your desk. PriceBeam takes care of finding respondents, asking the right questions in the local language, interpreting results, and delivering the final analysis to you.
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You define the target market and describe the product.
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PriceBeam finds the right respondents in each of the markets.
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Run single-market assessments.
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Run and compare results between countries, as part of international launches or price increases.
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Packages
PriceBeam solutions can solve different types of pricing challenges.
Essential Package - Consumers
Quickly research what your customers in a given market are willing to pay for a product or service.
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Consumer insights
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Understand willingness-to-pay
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Overall market analysis
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Existing or new product
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Feature item 5
Advanced Package - Consumers
Expand research by analyzing Willingness-to-Pay overall as well as per segment.
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Consumer insights
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Understand willingness-to-pay
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Overall market analysis
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Drill-down by segments
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Existing or new products
Business-to-Business Package
Understand what willingness-to-pay among business customers.
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Business insights
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Understand willingness-to-pay
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Overall market analysis
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Drill-down by segment
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Existing or new product
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PriceBeam panel or own panel
Ready to get started?
Book a demo with one of our experts and see how we can help.
