ad hoc market research, Clients' solutions, Market research apps
Research of price and elasticity
PRICE & ELASTICITY RESEARCH
We approach the research of price and elasticity from a qualitative and quantitative perspective to understand the minimums and maximums and the whys behind them in order to understand what criteria allow us to expand the elasticity.
How receptive are your customers to a price increase?
Do you need a price and elasticity research?
KEYS TO THE CONSUMER CONTEXT
The first thing to do is to carefully study all theFactors that may be impacting our target audience in relation to our product and category. This has to do with social context, priorities, rational needs, emotional motivations.
POSITIONING IN THE CATEGORY
Price is one more attribute that makes up our producto, mSometimes it is loaded with rationalities but also with associated emotional benefits. It is key to understand its positioning in order to understand what criteria are determining the perceived right price or whether elasticity can exist thanks to them.
RELEVANT CRITERIA IN ELASTICITY
Presence of substitute goods that satisfy in all or some ways the same needs and provide similar benefits.
Income and possible variations in the income or standard of living of our consumer
Variations in the need covered by the product and evolution of category trends
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