Price Discovery Assessment

Price Assessment

CASE: ''DEFINING THE OPTIMAL PRICE FOR AN INNOVATION''

1: Challenge

DEFINE OPTIMUM PRICES

• What is the maximum price that people are willing to pay for my product? Is the market willing to pay a higher price for my brand? Does the location in the store influence the price perception of my customers?

• Gaining insight into which products are preferred at what price, in order to determine optimal pricing for our client.

2: Approach

Multidisciplinary kick-off session with project team to align objectives and formalize hypotheses.

Price game tool during one fieldwork weekend in the shop.

N = 242 * in-store interviews, divided over 5 different supermarkets.

Respondents chosen based on their actual shopping and purchasing behavior.

Per section in the store, 3 competitors and 5 different price levels are included in the game.

* Note: each project has a guaranteed N. The total N depends on the depth of the study and the research objectives

3: Impact

CONCRETE PRICE STRATEGY RECOMMENDATIONS PER STORE SECTION.

Validation of hypothesis: confirmed or rejected.

The results have given direction to the optimal pricing per location in the store.

We were able to make concrete recommendations on the pricing strategy, taking into account the market and brand positioning.

Price Discovery Assessment
Meer weten?
 doutsen@bamboobrands.com
 +316 34 32 8850

Doutsen Hoekstra
International Marketing Project Lead