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Pricing New Products

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Opinion Leader Series (8)

Pricing New Products

When launching a new product or new product version, the importance of price cannot be understated. Setting the price right will not only make sure that the new product generates as much profit as possible, it will also be of paramount importance to maintaining brand health and positioning the product, both for the new product and other products in the portfolio.

The right price for a new product or product version is one that is aligned with the target group’s willingness to pay. For a new product, this can be daunting as there is no historical data or consumer insight to use for determining this willingness to pay, and moreover, it is difficult to anticipate what target group will value the product the highest, and consequently pay the highest price.

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

You describe your product/service on our cloud-based platform. You also define the target market to research.

Create Market Research

We add all the research details, statistical setup, etc. so you don't have to worry about it.

Conduct Market Research

We collect responses about the given product/service in the defined target market.

Analysis & Results

The results are aggregated, analyzed and presented in our cloud-based solution.

How It Works
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