Surveys are often the best way to learn about price expectations, thresholds, and to gauge the market’s price sensitivity. This is especially the case for new-to-the-world products or for product improvements. But, asking respondents about price is one of the biggest challenges we face! In this session, we discuss (in a non-technical way) three of the most commonly used survey-based methods for pricing research: monadic price experiments, Gabor-Granger, and Van Westendorp PSM. We compare the approaches and highlight the pros and cons of each.
