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Willingness-to-Pay Research

 

A Willingness-to-Pay (WTP) study offers valuable insights into customer preferences regarding pricing for your product or service and unlocks insights how to optimize Volume, Revenue and/or Profit. WtP study also reveals valuable information about price elasticity and identifies psychological price points, commonly known as price cliffs, for the product being examined. 

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

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Willingness-to-pay

What is WTP?

WtP 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.​ Gain insight across the overall sample of a market-tested as well as the opportunity of creating key segments such as channels, retailers, specific demographic and more to unlock powerful insights to tailor pricing strategy.
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Challenges it Solves

Price Increase

This study enables you to grasp potential price increases and unveil any price cliffs and psychological price points for a single product. 

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New Product Pricing

Test consumers Willingness-to-Pay (WTP) for a single product launch to set the right entry price. 

New Concepts

Test new product concepts such as new formulas, new packaging, etc. to understand their impact on consumers Willingness-to-Pay. 

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Who is a WTP Study for?

RGM Teams:

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

 

Insights Team:

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

Innovation Teams:

A WTP 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 WTP:

FMCGs/CPG

Beverages

Apparel

Cosmetics

Home Care

Food

Pet Food

 

Consumer Electronics

 

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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Case studies

Learn how our customers were able to solve their pricing challenges and increase revenue.

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