Pricing is at the core of every business success, yet most businesses determine their pricing through trial and error. This is particularly true in the case of new products entering the market with no comparable pricing history.
The key to having confidence in your pricing decisions is to have the right person ask the right questions to the right people. We can provide objective third-party interviewers that protect your company from revealing too much too soon about a product release, and get to the heart of the information that surrounds the purchasing decision process with your audience. In the case of new products or services, the line of questioning typically circumnavigates the solution itself to get a clear picture of the offset value it provides. This information can then be used to determine appropriate pricing and market the solution.
Typical processes used in pricing validation include focus groups, competitive research, market analysis, or one-to-one interviews combined with strategic pricing analysis and suggestions.