Investigación de mercado de precios

By investing in pricing market research, companies can avoid the pitfalls of overpricing or underpricing, ensuring their offerings are competitively positioned while maintaining profitability.

Getting the right price can make or break a product’s market success. That’s why pricing market research is the hidden powerhouse behind effective pricing strategies, providing businesses with the knowledge they need to navigate complex market dynamics.

What Is Pricing Market Research?

Pricing market research provides businesses with critical insights into how pricing affects consumer behavior, market positioning, and overall profitability. By exploring factors such as competitor pricing, customer willingness to pay, and market trends, pricing market research helps companies develop strategies that align with their business goals.

One of the key issues that pricing market research addresses is the challenge of setting a price that balances customer expectations with business objectives. It identifies price sensitivity levels among different customer segments, highlights potential pricing barriers, and uncovers opportunities to optimize pricing structures. Additionally, this research aids in pinpointing market gaps, allowing businesses to adjust their pricing strategies to stay ahead of competitors.

Why Do Businesses Need Pricing Market Research?

One significant issue that pricing market research addresses is understanding customer price sensitivity. By analyzing how different price points affect demand, businesses can identify the optimal price that maximizes revenue without alienating potential customers. This is particularly important in industries where small price adjustments can lead to significant changes in sales volume. Moreover, pricing market research helps businesses understand regional variations in pricing preferences, ensuring that pricing strategies are tailored to specific market conditions.

Another critical reason businesses need pricing market research is to stay ahead of competitors. Today’s customers have endless purchasing options in the global marketplace. Price communicates the product’s value and information about the entire product and its benefits.  Value is defined as benefits minus costs.

When to Conduct Pricing Market Research

One of the most strategic moments to engage in this research is antes de lanzar un nuevo producto o servicio. Understanding the market landscape, customer expectations, and competitor pricing strategies can significantly impact the launch’s success. Pricing market research provides insights into the optimal price point that balances profitability with consumer appeal, ensuring that the product is competitively positioned from the outset.

Another key moment in conducting pricing market research is during market expansion. Whether entering a new geographic region or targeting a new customer segment, businesses must adapt their pricing strategies to local conditions. Market-specific factors such as economic conditions, cultural preferences, and regional competition can all influence pricing dynamics. Conducting pricing market research during these times helps businesses tailor their approach, ensuring their pricing strategy aligns with the new market’s unique characteristics.

Additionally, businesses should conduct pricing market research when they experience significant shifts in market conditions, such as increased competition, changes in consumer demand, or economic downturns. Re-evaluating pricing strategies becomes crucial to maintaining market share and profitability during these times. 

Consideraciones

Pricing market research is complex. Different market segments can react differently to the same pricing, impacting marketing strategy. Costs and profits can dominate pricing policy. Divisions often duel over the focus of pricing strategy, emphasizing different strategies like market pricing, market penetration, profit maximization, differentiation, and value pricing.

On a global level, standardized pricing may be successful in one region but fail in another. Aggressive pricing strategies may result in competitive reactions that immediately impact sales.

Acercarse

SIS International ofrece un enfoque de investigación integrado, cobertura global y experiencia para ofrecer una "visión completa del mercado". Nuestro enfoque de Investigación Integrada utiliza varios niveles de investigación e inteligencia para brindar una visión completa de todo el panorama del mercado necesario para la estrategia de precios. En la Investigación de Mercado de Precios, examinamos los siguientes factores:

• Clientes
• Competidores
• Compañías
• Culturas
• Cadenas de suministro

Los servicios clave de investigación de mercado de precios incluyen:

• Análisis de estructura de costos
• Análisis de costos fijos y variables
• Análisis de ingresos
• Análisis de Rentabilidad
• Punto de equilibrio de analisis
• Precios de la competencia
• Estrategia para colocar precios
• Marco de precios (en la mente de los consumidores)
• Previsión de precios
• Elasticidad de precio

Psicología de precios

Companies may need price framing research and strategies. We research the most appropriate ways that price is framed in the customers’ minds. Pricing psychology factors heavily in this process, and SIS examines findings with pricing psychology. The importance of price framing emerges when local companies compete against global companies and when relative pricing is more important than nominal price tags.

Análisis conjunto

¿Qué es el análisis conjunto?

Conjoint Analysis is a technique used in market research that helps to understand how consumers value different attributes in an individual product or service. Such attributes may include tangible attributes such as size, weight, color, etc., and intangible attributes such as price, quality, etc.

Respondents are provided with descriptions of products that correspond to the attributes of the product being measured. They are then asked to choose between those products based on their attributes and again based on a rotation of attributes.

A regression analysis, a type of statistical analysis that compares averages, would then be run on the data for each respondent, resulting in the value of each attribute. Linear or logistic regression can be run depending on the survey design. By using a sub-set of all possible products and sets of features, we ask about only a few of the possible products to predict the attractiveness of all possible products. 

Los siguientes son factores a considerar al pensar en el análisis conjunto:

• Conjoints may not explain the interaction effects between attributes well.  Qualitative research can augment understanding in that regard.
• No funciona bien si no conoce las funciones relevantes que debe incluir.
• Conjoint es estático y no explica cómo se encadenarán las cosas con el tiempo.
• Se supone que los participantes conocen las características.

Enfoques de Gabor Granger y Van Westendorp

The Gabor Granger method is a pricing technique in which respondents are asked how likely they are to buy the product at various stated price levels. All tested prices should be presented in random order.

There are a few considerations to keep in mind with Gabor Granger. Market segments can react differently to the exact pricing, impacting marketing strategy.   Outside of customers’ value considerations, costs and profits impact pricing policy.

Another metric is the Van Westendorp PSM (Price Sensitivity Meter), a battery of four questions. After being presented a description of the product or service, respondents are then asked:

1. ¿A qué precio consideraría que el producto tiene una buena relación calidad-precio? ["Barato"]
2. ¿A qué precio diría que el producto está empezando a ser caro, pero aun así consideraría comprarlo? ["Caro"]
3. ¿A qué precio el producto sería tan caro que nunca lo considerarías? ["Muy caro"]
4. ¿A qué precio el producto sería tan económico que dudarías de su calidad? ["Demasiado barato"]

Divisions often duel over pricing strategies’ focus, emphasizing costs, market pricing, market penetration, profit maximization, differentiation and value. On a global level, standardized pricing may bring success in one region but may bring new challenges in another. If companies implement competitive pricing strategies, competitive reactions may immediately impact sales. 

Understanding Willingness to Pay in Pricing Market Research

Willingness to pay (WTP) is a crucial concept in pricing market research that helps businesses determine how much customers are willing to spend on a product or service. This insight is fundamental for setting optimal prices that align with consumer expectations and drive sales. Pricing market research employs various methods, such as surveys, conjoint analysis, and behavioral data, to measure WTP, providing businesses with a clear picture of price sensitivity among different customer segments.

Understanding Price Elasticity in Pricing Market Research

Price elasticity of demand is a crucial concept in pricing market research. It helps businesses understand how sensitive consumers are to changes in price. It measures the percentage change in quantity demanded in response to a percentage change in price, providing valuable insights into how price adjustments can impact sales volume and revenue. 

For highly elastic products, even small price increases can lead to significant drops in demand, making it essential for businesses to consider their pricing decisions carefully. Products like consumer electronics, fashion items, and luxury goods often exhibit high price elasticity, as consumers can easily switch to alternatives if prices rise. 

Conversely, products with low price elasticity, such as essential goods, unique services, or products with strong brand loyalty, can withstand higher prices without substantial changes in demand. Understanding price elasticity enables companies to optimize pricing models, maximize revenue, and make informed decisions about when and how to adjust prices.

How SIS International’s Pricing Market Research Helps Businesses

SIS Internacional’s pricing market research provides businesses with tailored insights that drive enhanced strategic planning and optimized pricing strategies. Our expertise in advanced data analytics, consumer behavior analysis, and competitive benchmarking equips companies with the knowledge to set prices that align with market dynamics and customer expectations. 

La reducción de riesgos:

SIS International’s research reduces the risks associated with pricing changes by providing data-driven insights that minimize uncertainty. Our analysis helps companies avoid costly pricing mistakes, such as setting too high or too low, by clearly understanding market conditions and customer responses. 

Eficiencia de marketing mejorada:

Effective pricing is closely tied to marketing success. Our research helps businesses align their pricing with marketing strategies, ensuring that promotional efforts resonate with target audiences. 

Crecimiento acelerado e innovación:

We empower businesses to innovate with confidence by providing the pricing insights needed to support new product launches and market expansions. Our research identifies market gaps and consumer needs, allowing companies to set prices that reflect the unique value of their innovations. 

ROI mejorado:

Our pricing market research drives better return on investment by helping businesses make strategic, data-backed pricing decisions. By optimizing prices to align with market demand, companies can improve profitability and maximize the impact of their pricing strategies on overall business performance.

Investigación de precios competitivos

SIS conducts Strategy Research to provide data and insights about the competitive reactions to pricing strategies.  SIS is a leader in competitive analysis and was a founding member of the SCIP organization, which specializes in Strategic and Competitive Intelligence.  We provide War Gaming, Competitive Benchmarking and customized competitive reports related to pricing.

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Acerca de SIS Internacional

SIS Internacional ofrece investigación cuantitativa, cualitativa y estratégica. Proporcionamos datos, herramientas, estrategias, informes y conocimientos para la toma de decisiones. También realizamos entrevistas, encuestas, grupos focales y otros métodos y enfoques de investigación de mercado. Póngase en contacto con nosotros para su próximo proyecto de Investigación de Mercado.