PRICE & ELASTICITY RESEARCH
from a qualitative and quantitative point of view!
We will know the minimum and maximum price, and what is behind them, to understand what criteria allow us to expand elasticity.
We will carefully study all the factors that may influence our target audience in relation to our product and the category. This includes social context, priorities, rational needs, emotional motivations…
Price is another attribute that defines our product, often loaded with rational but also emotional benefits. We will understand your positioning in relation to the competition, in order to understand the criteria that determine the right perceived price, or if there is elasticity thanks to them.
We set the minimum acceptable price so as not to damage the image of the product or compromise its quality.
On the other hand, the maximum price that our consumer would be willing to pay for the product without rejecting it.
Finally, to establish the average price that the consumer will find convenient and appropriate for our product or service.
RELEVANT CRITERIA AND PRICE ELASTICITY COEFFICIENT
Existence of substitutes
Income and changes in the consumer’s income or standard of living
Variations in needs met by the product
How receptive are your customers to a price increase?
How much does price affect the demand for a product?
How receptive are your customers to a price increase?
How much does price affect the demand for a product?