Pricing Research
Maximize Revenue and Profit with Vision One’s Pricing Research
Perfect Your Pricing – Don’t make the mistake of pricing yourself out of the market before you even start. Use pricing research to optimise your prices.
Pricing market research
Picture this. You have spent months, maybe even years, developing a product or service. How do you then ensure your investment has paid off? That is where we come in. Pricing research focuses on the costs of your product and considers factors such as fixed costs, market share, and more.
It aims to understand what customers want and are willing to pay for. Allowing your brand to maximise profit, market share or revenue. The goal is to find a price point that is low enough for customers to feel comfortable paying, whilst not so low that they feel overcharged. Bear in mind that you need to ensure your profit zone costs align with what consumers consider acceptable. Otherwise, your product will not work, and additional work will be needed.
Our pricing methods
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Van Westendrop PSM
The Price Sensitivity Meter (PSM) was designed by Peter Van Westendop and is constructed to show a range of acceptable prices for a particular product. The prices are found by asking four simple questions, which are:
At what price would you begin to think a product is too expensive to purchase? What price would you consider so low that you would question the product’s quality and not consider it? At what price does the product become too expensive in your eyes, but would you still consider purchasing it? At what price would you consider this product a bargain and a great value for money?
Gabor-Granger Technique
Gabor-Granger Technique directly asks participants whether a specified price would tempt them to purchase.
Moderators will continue to keep asking the same question until their answer changes, whether it goes up or down. For example, would you buy this product for £5? Would you buy this product for £10? Until they believe it’s too far.
The direct technique helps determine demand at each price point to identify the optimal price.
Conjoint Analysis
Considered at times the most reliable way to determine the price of a product, we can assess the influence of both price and product features on willingness to purchase.
Choice-based Conjoint (CBC) is a technique in which respondents are shown a set of concepts (with varying specifications) and asked for their preferences, allowing us to understand the impact of each feature and attribute.
Brand Price Trade-Off
Brand price trade-off or BPTO, as it is sometimes known, is a simpler version of conjoint analysis, where a set of brand and price combinations is shown.
After each scenario, the price of the selected brand is increased, and the consumer is asked again to choose from the new set of brand/price combinations. The BPTO approach identifies the price points at which people switch into or away from a brand.
Monadic Price Testing
Split your participants into different groups, test the same item across all studies, but change the price they are expected to pay. The data is then analysed to work out what price is seen to be most accepted
This form of study produces an unbiased result, showing only one price and product variation means no influence or bias from other possibilities arises.
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Your pricing research questions answered (FAQ)
By identifying the price points that customers consider acceptable and attractive, pricing research helps businesses balance demand with profitability. It enables companies to avoid underpricing products while ensuring prices remain competitive and appealing to customers. PSM is particularly suited to understanding price thresholds.
Yes. Price is often closely linked to brand perception. Pricing research helps businesses understand whether their pricing signals premium quality, value, or affordability, ensuring the price aligns with the intended brand positioning.
Pricing research can reveal how much customers are willing to pay, how price influences demand, how your pricing compares with competitors, and whether customers perceive your product as good value.
Brand Price trade off can help you better understanding pricing in a competitive context or the impact of various product features. These insights help businesses optimise pricing strategies and identify opportunities to improve margins
Focus groups are generally not recommended for pricing research. In a group setting, participants often struggle to provide realistic estimates of how much they would actually be willing to pay. Prices discussed in conversation can be influenced by social dynamics, assumptions, or attempts to appear rational rather than reflecting real purchase behaviour.
Reliable pricing research requires structured quantitative methods that measure price sensitivity across larger samples. Techniques such as Van Westendorp, Gabor-Granger, or conjoint analysis provide far more robust insight into acceptable price ranges, demand at different price points, and the true value consumers place on a product or service.
Data integrity is at the heart of our research process. We are ISO 20252-accredited and utilise robust sampling frameworks, meticulous data validation techniques and continuous quality monitoring throughout the research lifecycle.
Every dataset undergoes thorough checks to ensure accuracy, reliability, and compliance with industry standards, including MRS, ESOMAR and GDPR guidelines.
Pricing research is valuable when launching new products, adjusting pricing strategies, entering new markets, or responding to competitive changes. It helps ensure that pricing decisions are guided by customer insight rather than assumptions.
Vision One offers a wide range of leading edge market insight services. including:
Brand Research & Brand Tracking
Helps brands understand awareness, perception, loyalty, and brand health over time. Continuous tracking studies measure how marketing activity impacts brand performance and identify opportunities to strengthen positioning.
Customer Experience (CX) & Customer Insight
Research programmes that explore the customer journey, satisfaction, loyalty, and service experience. These studies help organisations improve experiences and build stronger customer relationships.
Advertising & Communications Testing
Evaluates marketing campaigns, messaging, and creative ideas before launch. This helps brands understand whether advertising resonates, communicates clearly, and drives the intended response.
Market Sizing & Market Entry Research
Helps businesses understand the size of an opportunity, demand within a category, and the potential to enter new markets or launch new products.
Product & Innovation Research
Includes new product development, concept testing, ideation workshops, and innovation research to identify opportunities and refine ideas before launch.
B2B Market Research
Research tailored to business decision-makers and professional markets, including studies on buying processes, brand perception, and customer segmentation.
Qualitative Research
Techniques such as focus groups, in-depth interviews, ethnography, and co-creation workshops to uncover motivations, perceptions, and emotional drivers behind behaviour.
Vision One is committed to ethical practices in market research by adhering to industry standards and guidelines set by organisations such as the Market Research Society (MRS) and ESOMAR. This includes obtaining informed consent from participants, ensuring data confidentiality, and maintaining transparency throughout the research process.
By prioritising ethical considerations, Vision One builds trust with clients and participants alike, ensuring that the research conducted is not only effective but also responsible and respectful of individual rights.
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