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Pricing research services and capabilities

NewtonX pricing research identifies how much your existing and future clients are willing to pay for your products or services. Your custom pricing study also tackles strategic pricing dilemmas like:

  • I want to raise profits by increasing prices. At what point will the increase in margin outweigh the expected decrease in sales? 
  • Will people think this is lower quality, if I lower the price?
  • I know lowering the price will increase our market share, but is this sustainable in terms of long-term growth? 
  • Which of these potential new features are people willing to pay for? And how much value are they perceived to have?
  • Will this new customer segment be willing to pay more for our service?

 

Reliable NewtonX pricing research insights leverages custom recruiting to find the exact professionals you need to assess your market value. Our analysis of their answers helps you direct your resources to generate maximum ROI, and set price levels that drive customer adoption and revenue.

Van Westendorp analysis

Gabor-Granger analysis

Conjoint / DCM studies

Pricing research to deliver both scale and specificity

Our technology reaches across 140+ industries to give you the scale of a panel combined with the depth of an expert network. From professionals en masse to niche, hard-to-find audiences, the NewtonX Knowledge Graph can find the exact people to deliver the business insights you need. We’re the only pricing research agency that’s developed proprietary research technology to keep up with market demands. Here’s just a sampling of who we pinpoint, for everything from 5,000+ participant surveys to curated groups of in-depth interviews.

140+

industries

  • Cryptocurrency specialists advising on hedge fund projects 
  • Advertising professionals overseeing brand spend
  • Reddit users that visit Reddit for NSFW content
  • IT decision-makers evaluating cloud software services

NewtonX helps industry innovators turn inquiry into impact.

mfst-case-study-header Case Study

Why Microsoft chose NewtonX to develop an innovative new product strategy

Our insights played a crucial role in Microsoft's product strategy development.
Read the Case Study
Aerial.,Pedestrians,Passing,A,Crosswalk.,Rush,Hour,In,The,City. Case Study

B2B Innovations: Research Methodology that Transformed UX at Pinterest

Learn how Pinterest used Custom Recruiting to revolutionize its approach to B2B UX Research.
Read the Case Study

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What is pricing research?

brand price trade off research

Setting Prices Of A Product Or Service

Pricing research is a strategic process that involves analyzing and assessing various factors related to setting the price of a product or service. It is a critical component of marketing and business strategy, as pricing decisions can significantly impact a company’s profitability, market positioning, and overall success. Pricing research aims to provide data-driven insights into pricing strategies, competitive pricing landscapes, and customer willingness to pay. This research helps businesses make informed pricing decisions that maximize revenue and customer satisfaction. It involves a range of methodologies and approaches tailored to the specific needs and goals of the business.

What are the benefits of pricing research?

Pricing research offers numerous benefits for businesses across various industries. These benefits play a crucial role in helping companies make well-informed pricing decisions and enhance their overall profitability and competitiveness. Here are some key advantages of pricing research:

Optimized Pricing Strategies

Pricing research allows businesses to identify the most effective pricing strategies for their products or services. By analyzing market conditions, customer preferences, and competitor pricing, companies can determine the optimal price points that maximize revenue and profit margins.

Increased Profitability

Pricing research helps businesses avoid underpricing or overpricing their offerings. This, in turn, leads to improved profitability as companies can capture the maximum value from their products or services without driving away potential customers.

Enhanced Competitiveness

Understanding how competitors price similar products or services is vital for staying competitive. Pricing research helps companies stay updated on competitor pricing strategies, allowing them to adjust their own pricing to gain a competitive edge.

Customer Insights

Pricing research provides valuable insights into customer preferences and their willingness to pay. Understanding how different customer segments perceive value and price sensitivity allows businesses to tailor pricing strategies to specific market segments.

Improved Product Positioning

Effective pricing research can aid in positioning a product or service within the market. It helps companies determine whether to position their offerings as premium, mid-range, or budget-friendly, aligning with their target audience’s expectations.

Risk Mitigation

Pricing research helps minimize the risks associated with pricing decisions. It provides data-driven insights that reduce the likelihood of pricing errors that could lead to revenue loss or damage to a brand’s reputation.

Product Development

Pricing research can also inform product development decisions. By understanding customer preferences and price expectations, companies can design products that meet market demand while ensuring they are priced competitively.

Market Expansion

For businesses looking to enter new markets, pricing research helps adapt pricing strategies to the unique characteristics and consumer behaviors of those markets. This flexibility is crucial for successful market expansion.

Data-Driven Decision Making

Pricing research provides businesses with quantitative data and actionable insights, enabling data-driven decision making rather than relying solely on intuition or guesswork.

Maximized Customer Value

By aligning pricing strategies with customer perceptions of value, companies can deliver a better customer experience, leading to increased customer loyalty and lifetime value.

The importance of pricing research in business

customer-loyalty-research

Business Strategy Effectiveness

Pricing research is not just a valuable tool; it’s a necessity in today’s competitive business landscape. Understanding how consumers perceive and respond to pricing is crucial for any company’s success. Pricing decisions can significantly impact a business’s revenue, profitability, and market positioning. Without pricing research, businesses risk making uninformed decisions that may lead to underpricing, leaving potential profits on the table, or overpricing, which can deter customers.

Furthermore, pricing research helps companies stay ahead of the competition by identifying opportunities to create pricing strategies that resonate with their target audience. It also allows for agile adjustments in response to changing market conditions and consumer preferences. Ultimately, pricing research is essential for maximizing revenue, maintaining competitiveness, and delivering products or services that align with customer expectations, making it an indispensable aspect of effective business strategy.

What are the types of methodologies used in pricing research?

Pricing research employs various methodologies and techniques to gather data, analyze market dynamics, and inform pricing decisions. Each methodology offers unique advantages depending on the research objectives, target audience, and the nature of the products or services being studied. Here are some common types of methodologies used in pricing research:

Conjoint Analysis

Conjoint analysis is a powerful method for assessing how different product attributes and pricing levels influence consumer preferences. It helps businesses understand the trade-offs consumers are willing to make when choosing between different product features and price points.

Van Westendorp Price Sensitivity Meter

This approach involves asking consumers a series of questions to determine their price sensitivity. The Van Westendorp model helps identify the price range at which consumers perceive a product as too expensive, a bargain, or reasonably priced.

Monadic Testing

In monadic testing, products are presented individually to participants, and their responses to different price points are recorded. This method is often used to assess the impact of price changes on purchasing decisions.

Brand Price Trade-Off (BPTO)

BPTO research examines how consumers perceive the relationship between a brand’s reputation and its pricing. It helps businesses understand the trade-offs consumers are willing to accept between price and brand value.

Gabor-Granger

The Gabor Granger method is a pricing research technique that involves conducting surveys to estimate consumer demand at various price points, helping businesses determine the price that maximizes profit.

Resources

NX_BLOG_10-Years-Exp Article

Competitive Benchmarking: How to Change the Game

Establishing best practices through benchmarking eliminates the trial and error phase of testing a strategy or practice.

Businesspeople,Discussing,And,Planning,Concept.,Front,Of,Glass,Wall,Marker Article

How to conduct B2B research: 3 tips for quality insights

Working with the world's leading organizations and top market research firms on a daily basis gives us a unique perspective into how teams are thinking about B2B research. Instead of keeping this a secret, we're sharing the leading indicators of great results.

wp_disrupting_header_v2 Article

What is the importance of B2B market research?

Market research for B2B needs is used very differently from market research for B2C needs. B2B market research is conducted to inform decisions about transactions between businesses. In other words, the customers are other companies.

View more

Take it from the world’s leading companies

I was really excited when we found NewtonX. Their Custom Recruiting has genuinely been a game changer for us in terms of data quality. Not only do I have much greater trust in the data, but the variation in the data means I can more easily provide actionable direction for our product and marketing teams without finding myself rationalizing away bad data.

Matt Harris
Senior Customer Research & Insights Manager, Checkout.com

I love working with the crew at NewtonX. I very much value the great partnership we have had with our engagements—a true extension of our MSFT team!

Senior Research Program Manager, Microsoft

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NewtonX is the only B2B research company that connects researchers with the exact professionals required to solve any problem.