Research Creation Logging in to your account, you can create a project. With a project, we mean one survey to measure willingness to pay for one product or service. You can create as many projects as you need. Once you created a project, you select which audience you need for the project. This means that you specify from our selection list the profile of the individuals you want to query about their willingness to pay and buy your product or service.
Quality Control Your information will generate a survey that will be sent to the audience you selected. Before the survey is launched, it is quality controlled by PriceBeam staff. If we find issues we cannot correct ourselves, we will contact you for further information.
Market Research: Price Study The survey is launched and once we reached a statistically valid number of respondents, we will close the survey and analyze the data. You will be notified of the survey launch, the survey completion and the progress at any point in time by logging on to your account. The survey and analysis process take about a week.
Data Collection & Quality Control Data is collected continuously and once all in, a PriceBeam team member will quality control the data. We also apply an AI engine to further check that responses appear realistic and proper.
Results Interpretation PriceBeam provides ready-to-use analysis and interpretation of the results, by providing a set of ready-made analyses. Optionally, we can also provide human commentary and analysis about the data, and help create actionable conclusions.
Analysis & Reporting The results will include: The response to your questions Graphs to represent measured willingness to pay for all respondents and for the segments you defined. This means that you will see how willingness-to-pay changes as different prices are considered. The graphs will have a clear indication of what price will provide you with the highest sales volume. The graphs will also indicate the dangerous price walls, psychological price points where small price changes can cause significant changes in sales volume. Graphs to represent modeled revenue for all respondents. This means you will see at what prices you will receive the highest revenue, that is almost always different from where you will receive the highest sales volume. Precise advice on price for highest sales volume and highest revenue.