A cruise line example illustrates how to use discrete choice to determine marginal value in this piece published in Quirk’s Marketing Research Review, How to Price an Island.
Pricing Research
-
Pricing Research – A New Take on the Van Westendorp Model
Pricing Research – A New Take on the Van Westendorp Model provides an instructive case study on revenue forecasting.
-
Grange-Gabor Price Model
Using a Grange-Gabor Price Model with Price Elasticity, respondents are asked to complete a survey where they are asked to say if they would buy a product at a particular price. The price is changed and respondents again say if they would buy or not.
-
Pricing and Revenue Monte Carlo Forecast Model
Pricing and Revenue Monte Carlo Forecast Model reveals the ‘price point’ winner, not only of product demand at test price levels, but taking into account the estimated market area and fixed costs.
-
Multivariate Pricing
Multivariate Pricing, published in Research World Magazine, explains how to base prices on consumers’ perception of value.
-
Van Westendorf Price Model
The Van Westendorf Price Model asks respondents four price-related questions and then evaluate the cumulative distributions for each question.
-
The Discrete Choice – Specialty Cracker Market
The Discrete Choice – Specialty Cracker Market simulates market share and revenue for a newly introduced product and its competitors.
-
Conjoint Presentation – Energy Drinks
Conjoint Presentation – Energy Drinks indicates the power of pricing within the consumer consideration trade-off considerations.
-
Revenue Forecast Model Using Van Westendorf
Revenue Forecast Model Using Van Westendorf is an extension of the Van Westendorf model that also includes purchase intent and Revenue per 100 customers.
-
Dual Usage Market Penetration Likelihood Simulator
Dual Usage Market Penetration Likelihood Simulator – A dual use simulator is a combination of discrete choice model where respondents are asked to choose one item from a list of four or five, generally with rotating prices. In addition, respondents are then asked, of the one choice they make, how likely would they be to purchase it. This extra inquiry not only allows the researcher to gauge price sensitivity, but also to determine market penetration by simply adding one more question per section. Email us to request a copy of the simulator.
-
The Price Toolbox
The Price Toolbox is an article published in Admap Magazine summarizing various pricing methods and their effectiveness.
-
The Power of Segmentation
The Power of Segmentation examines the price differences various segments of drivers are willing to pay for gasoline.