|
Price Points Researching different price points can be difficult. Assuming a modest degree of interest in the product, it is in the respondent's self interest to make a case for the least expensive price. None of the most popular methods for researching price points effectively address this issue for any one respondent.
MRA's Solution: As a general rule, we prefer to use a quasi-experimental design and test different price points across unique groups of respondents, with each respondent seeing and evaluating one - and only one - unique price point. Determining the optimal price point is accomplished by comparing across the different groups as opposed to comparing across different questions for one larger group. The key benefit of this approach is that each respondent sees only one price point. The questionnaire is thus simplified and the respondent has no inherent self-interest in trying to lowball the survey data. |