Pricing Research the Voice of Your Customer

At Pricing Solutions we believe the voice of your customers are integral to the success of your pricing strategies. Through effective pricing research we provide you with actionable insights so that you can make informed decisions. With over 700 projects completed in 25+ industries, our team has the experience to handle your most complex research projects.

Let’s discuss how your organization can leverage consumer research to stregthen your pricing strategy.

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Understand Your Customers Through

Price-Volume Optimizer

Every day and promotion price elasticity, price optimization for volume, revenue, margin targets, competitive price position and strategies, ‘what-if’ scenarios to test pricing strategies, competitive reactions, optimal tiering structures, impact of new product and pack size introductions, consumer loyalty and switching behaviour

Perception Vs. Sensitivity

Assess the impact of a price change on revenue vs. customer perception, measure revenue and profit growth opportunities vs. price thresholds that impact brand equity

Value Map

Unlock the true value of your products/services using price vs. value assessments, key value driver measurement & competitive positioning

Pricing Intelligence Dashboards

View key tools and insights to get the big picture on your pricing strategy, view by customer segments

Pricing Power Assessment

Assess your pricing power using an overall assessment of price sensitivity, purchase behaviour, price perception and market dynamics

Segmented Customer Interviews

Understand who the key decision makers and their level of influence, determine early adopters, decision makers with high vs. low price sensitivity, overall impact of a price change based on levels of decision influence

Our Experience: Case Study

Regaining Control on Pricing

The Problem

Our client, a Global Fortune 500 Manufacturer, felt that they did not have control of their global pricing. Traditionally the company had succeeded in North America and Europe, with marginal sales representation in Asia Pacific and Latin America. Moving forward however, the company wanted to focus on emerging markets in order to grow the business.

The company was growing rapidly, but pricing was out of control. Prices for identical products were much lower in emerging markets than in developed ones. This was leading to gray marketing, customer dissatisfaction, in-fighting between the regions & product lines and potential price wars.

The company did not have a pricing strategy and lacked the processes for making decisions on a consistent basis that would ensure success. Decision rights were unclear and the fear was that pricing and margins were unraveling.

Pricing Matrix

The Solution

Pricing Solutions worked with the client to embed a Pricing Strategy that would effectively achieve the organization’s goals. The chart to the right provides a visualization of the Pricing Strategy “Nodes” that were developed to make the link between value and price. There were 16 nodes, each representing a different pricing strategy based upon the strength of the value proposition and goals of the company.

Processes were instituted to ensure a connection with value-based pricing at all times. These tools included Value Maps, the Pricing Power Assessment Tool, Pricing Strategy Playbooks, Financial Value Calculators, etc.

The Result

As a result, the company now has value based pricing strategies that have dramatically increased organizational confidence. This in turn has led to greater cooperation among the various product lines and regions. The impact: greater profitability. The company regained its ability to move the business strategically rather than transactionally, received guidance on when to say ‘no’ and when to say ‘yes’ to customers and was able to focus on strategic deals that required negotiation and cooperation among the various parties.

Not only did the company regain the high ground of pricing strategy, but also the profitability and sales growth that comes with it!