Determining the right price

The pricestrategy plays an important role both in the market acceptance of products and services and in the business development of the company. Every second company demonstrably gives away turnover and profit due to suboptimal price positioning. Conventional pricing studies attempt to derive an optimal price point on the basis of a direct price-readiness query. This is doomed to failure for a number of reasons: On the one hand customers answer such questions strategically, on the other hand price adjustments in practice are often linked to service adjustments. In addition, behavioural economics aspects play an important role in price perception and acceptance: Some customers do not even know whether a certain price point is cheap or expensive, they are overstretched when faced with different product variants or attach little importance to the price, depending on the product and brand. Our experts will be happy to advise you on a sensible study design to optimise the pricing strategy in your company. In doing so, we use state-ofthe-art analytical methods, depending on requirements, for example, conjoint analyses, implicit price queries, PSM, etc.

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Philipp Fessler

Head of the Analytics research group