Psychological Pricing

One thing is setting a price - a different matter is how this price is perceived by the customer. Ultimately, this is what matters as to the effect the price will have on sales, and thus this perception needs to be managed.

One of the most important ways of managing price perceptions is by installing appropriate price anchors; that is, pricing other portfolio products so that they provide an optimal benchmark for price comparison. To do this, it is crucial to have a thorough understanding of the willingness to pay for said product, so price anchors can be set accordingly. PriceBeam has extensive experience in analyzing customer price perceptions, and help companies optimize the perceived price. In particular, we help companies set prices that send the right signals in terms of conveying an appropriate message of quality that is aligned with the company’s brand positioning.

Define offering & target market

You describe your product/service on our cloud-based platform. You also define the target market to research.

Create Market Research

We add all the research details, statistical setup, etc. so you don't have to worry about it.

Conduct Market Research

We collect responses about the given product/service in the defined target market.

Analysis & Results

The results are aggregated, analyzed and presented in our cloud-based solution.

Psychological Pricing

How Does It Work?

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