Core Study (Basic Survey)
Core Study, also known as Basic Study enables you to ask your customers anything about a specific product, exclusively non-pricing related. In a study, companies can focus on four key elements: Optimal Price Setting, Feature Pricing, Assortment Pricing, and New Product Pricing.
Challenges it solves
Understanding Customer/Consumer Sentiment
Surveys allow you to directly ask your target audience about their preferences, perceptions, and priorities regarding non-pricing related. This insight can uncover what features or aspects of your product or service matter most to them, influencing their perceived value of the product/service.
Data-Driven Decision Making
Core Study enables the gathering of data to provide qualitative information about consumer behavior and their perceived value thresholds. This data helps in making informed decisions about setting prices that align with consumer expectations and market demands.
Core Study has many benefits that can enable you to make more informed decisions using customer perceptions.
Comprehensive Customer Insight:
Core Study provides a platform to inquire about any aspect of a specific product, excluding pricing. This allows companies to gain comprehensive insights into customer preferences, needs, and opinions, contributing to a deeper understanding of their target audience.
Smart Price Setting:
Through this study, companies can focus on finding the optimal price for their products. By understanding customer perceptions and preferences unrelated to pricing, businesses can make informed decisions about setting prices that resonate well with their audience.
Fine-Tuned Feature Pricing:
Core Study enables businesses to delve into feature pricing without the influence of price-related questions. This allows for a more nuanced understanding of how customers value different product features, aiding in the development of targeted pricing strategies.
Strategic New Product Pricing:
Companies can use the Core Study to gather valuable insights into customer preferences for new products. By focusing exclusively on non-pricing aspects, businesses can optimize their new product pricing strategies, ensuring successful product launches in the market.
How Does It Work
PriceBeam’s solution conducts extensive market research. It works by strategically optimizing pricing, promotions, and product assortment to maximize a business's overall revenue and profitability. Through a comprehensive study that analyzes market dynamics, customer behavior, and competitive landscapes, Core Study provides actionable insights, allowing businesses to make informed decisions.
Define offering & target market
Conduct Market Research
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.
- You define the target market and describe the product.
- PriceBeam finds the right respondents in each of the markets.
- Run single-market assessments.
- Run and compare results between countries, as part of international launches or price increases.
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.
Advanced Package - Consumers
Expand research by analyzing Willingness-to-Pay overall as well as per segment.
Understand what willingness-to-pay among business customers.
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Book a call with one of our experts and see how we can help.