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Old 11/20/2009, 12:07 PM
Jerry Bernstein Jerry Bernstein is offline
 
Join Date: Apr 2009
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Default Value Pricing Research

What do customers value in your product and services? What is their willingness to buy? Will they pay a premium for your product. You can get answers to these questions, and you can get started on your own. Qualitative research is much less expensive than quantitative work, and often will provide answers that reduce the need for quantitative research.

The first step is to design an Interview guide. Questions should fall into categories designed to satisfy your overall objectives, which might include some of the following:
1. Test or validate the assumed and any potential value propositions. This can be a list that you ask the respondent to score for the importance or value of each item. If interview is in person this could be conducted as a "game".
2. Gain greater understanding into the barriers to switching to your product and/or new technology that your product offers. See if you can determine if the respondent is dissatisfied with their current solution, dormant because they have no perceived problems with their existing solution, looking to improve their process or position, or if their company is growing and in need to make a purchase in the near future.
3. Gain qualitative or directional input to defining the trade off position the product could offer. You might simulate a likely purchase scenario and ask questions aimed at judging their response and likely outcome.
4. Develop questions that aim to define from the customer perspective the ultimate and acceptable whole product solution.
5. Consider questions that would qualify a respondent to participate in an early adopter phase of the product.
6. Develop a list of questions that will collect demographic information that may be of use either now or later.
7. Write questions that increase your understanding of the purchase process for your product.

For practical articles on pricing: http://valuepg.com/Articles.html
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