Price Optimization
Most companies do not have fine-tuned prices, and thus, they are losing out on lots of profits. Either they price too high, which means they lose out on sales, or they price too low, which means they lose out on profits; or even worse, customers start suspecting low quality.
Regardless of which scenario applies, the solution lies with conducting pricing research of the customer’s willingness to pay.
Armed with willingness to pay research, companies can determine the price points that will optimize either sales, revenue or profits. Often, the answer is surprising!
Moreover, sometimes this research will reveal that there are more profitable segments for the product out there; so not only should the price be changed, the product should also be directed at a different target group.
What We Do
PriceBeam offers said willingness to pay analyses, but unlike traditional pricing research firms, we enable you to do it yourself -- and produce research of the same, high quality. Our research solution is a cloud-based software that automatically collects and analyzes consumer data for your target group, and creates a detailed, interactive willingness to pay curve.