--- title: Willingness to Pay Research | Pricing Research description: Price optimization requires a deep understanding of the customer’s willingness to pay. 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About - [Company](https://www.pricebeam.com/about?hsLang=en) - [News & Events](https://www.pricebeam.com/news?hsLang=en) - [Partners](https://www.pricebeam.com/partners?hsLang=en) - [Press](https://www.pricebeam.com/press?hsLang=en) - [Careers](https://www.pricebeam.com/careers?hsLang=en) - [Contact](https://www.pricebeam.com/contact?hsLang=en) ![Search icon](https://5018647.fs1.hubspotusercontent-na1.net/hubfs/5018647/Design/Icons/Font%20Awesome/search.svg) # 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](https://www.pricebeam.com/rgm360?hsLang=en) [Book a demo](https://www.pricebeam.com/demo?hsLang=en) [Start a free trial](https://www.pricebeam.com/demo?hsLang=en) ![Willingness-to-pay](https://www.pricebeam.com/hubfs/Website_images__1280_x_720_px___1080_x_720_px___17_-removebg-preview.png) ## 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. ![WtP Optimization Peak (Revenue](https://www.pricebeam.com/hubfs/WtP%20Optimization%20Peak%20\(Revenue.webp) ## 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.  ![Willingness-to-pay](https://www.pricebeam.com/hubfs/Screenshot%202024-09-26%20160025.png) ![Wtp](https://www.pricebeam.com/hubfs/Screenshot%202025-06-02%20102618.png) ## 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.  ![WtP by Segment](https://www.pricebeam.com/hubfs/WtPbySegment%20(1).png) ## 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. ## Frequently Asked Questions How can you measure what customers are willing to pay for my product or service? There are well established methods to do so that have been used for decades, and helped tens of thousands, if not millions of products and services to be priced right. PriceBeam have enhanced some of these methods to become more accurate and more practical to use. How do you deliver the results? You will have online access to detailed analyses that include both our specific pricing advice and the answer to the other questions the research included. If you have elected to purchase the Advanced plan, this also include human interpretation of the data. Results can also be exported to PDF. If I have a number of product or service to test, do you offer volume discount? Yes, please contact us to discuss. What are the costs? Please [contact us](https://www.pricebeam.com/contact-our-sales-team?hsLang=en) to get a proposal tailored to your needs. In what countries can I get research?  Albania  Algeria  Angola  Argentina  Australia  Austria  Azerbaijan  Bahrain  Bangladesh  Belarus (currently not accepting projects for this country)  Belgium  Bolivia  Bosnia and Herzegovina  Botswana  Brazil  Brunei  Bulgaria  Cambodia  Cameroon  Canada  Chile  China  Colombia  Congo D.R.  Costa Rica  Côte d'Ivoire  Croatia  Czech Republic  Cyprus  Denmark  Dominican Republic  Ecuador  Egypt  El Salvador  Estonia  Ethiopia  Finland  France  Gabon  Gambia  Germany  Ghana  Greece  Guatemala  Honduras  Hong Kong  Hungary  Iceland  India  Indonesia  Ireland  Israel  Italy  Japan  Jordan  Kazakhstan  Kenya  Kosovo  Kuwait  Laos  Latvia  Lebanon  Lesotho  Liberia  Lithuania  Luxembourg  Macau  Macedonia  Malaysia  Malta  Mauritius  Mexico  Moldova  Montenegro  Morocco  Mozambique  Myanmar  Namibia  Netherlands  New Zealand  Nicaragua  Nigeria  Norway  Oman  Pakistan  Panama  Paraguay  Peru  Philippines  Poland  Portugal  Puerto Rico  Qatar  Romania  Russia (currently not accepting projects for this country)  Rwanda  Saudi Arabia  Senegal  Serbia  Seychelles  Sierra Leone  Singapore  Slovakia  Slovenia  South Africa  South Korea  Spain  Sri Lanka  Sudan  Swaziland  Sweden  Switzerland  Taiwan  Tanzania  Thailand  Tunisia  Turkey  Uganda  Ukraine (currently not accepting projects for this country)  United Arab Emirates  United Kingdom  Uruguay  USA  Venezuela  Vietnam  Zambia  Zimbabwe Can I include competitor brands in my analysis?​ Yes, you are able in include competitors’ products within the CWtP study​. Is there an ideal number of products to test?​ PriceBeam’s WtP study can accommodate anywhere between 2 and 96 products. Whilst there is no “ideal” number, you should be wary of respondent fatigue​. What methodologies do you use? Based on the best parts from PSM, Gabor-Granger, Newton-Miller-Smith with elements from choice-based  conjoint analysis. ## Resources ![Carousel Ads LinkedIn (6) (1)](https://www.pricebeam.com/hubfs/Carousel%20Ads%20LinkedIn%20(6)%20(1).png) ### Let's get you started Book a demo with one of our PriceBeam experts and discover our platform capabilities.   [Book a demo](https://www.pricebeam.com/demo?hsLang=en) ![Read the story (600 x 600 px)](https://www.pricebeam.com/hs-fs/hubfs/Read%20the%20story%20(600%20x%20600%20px).png?width=800&height=800&name=Read%20the%20story%20(600%20x%20600%20px).png) ### Case studies Learn how our customers were able to solve their pricing challenges and increase revenue. [Read more](https://www.pricebeam.com/customer-case-studies?hsLang=en) ![Carousel Ads LinkedIn (1) (1)](https://www.pricebeam.com/hubfs/Carousel%20Ads%20LinkedIn%20(1)%20(1).png) ### PriceBeam Webinars Catch up on all our webinars from topics on AI, RGM, Promotional Pricing, Market Simulation, and much more. [Learn more](https://www.pricebeam.com/resources?hsLang=en) **Pricing Right, Made Easy** Almost all companies struggle to price right. They use methods such as cost plus a fixed margin. They use guesses and gut feel. They peg their price to a competitor’s. They price themselves too low, leaving money on the table, or too high, forsaking sales volume. They lose out on the profits they should be earning. PriceBeam changes all that. With a methodology that is confirmed to be accurate in thousands of projects, PriceBeam provides AI-powered market insights software that generates actionable insights into consumers' willingness-to-pay, competitive price positioning, packaging and assortment dynamics, promotional benchmarking, and opportunities from new product pricing. 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