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FocusVision Knowledge Base

Pricing Study Template

Overview

The Pricing Study allows researchers to test the level of demand/interest of a concept at various price points. This survey uses a pricing ladder design to understand how purchase interest for a product changes at various price points so that researchers can derive a price sensitivity curve.

1: Template Design

The Pricing Study template includes the following sections:

  • Concept exposure
  • Interest for the concept (no pricing)
  • Price ladder
  • Follow up questions (e.g. likes/dislikes) on the concept
  • Demographics

The Pricing Study template uses a price laddering technique starting at Q4. This means that each respondent starts at the lowest price point. If the respondent expresses a 'Top 2 box' interest, the price increases. The loop repeats for as long as the 'Top 2 box' interest is expressed or until the declared maximum price is reached.

2: Template Parameters

The Pricing Study Template is set up with the following parameters. Each of these may be customized according to the needs of your project.

2.1:  Survey Introduction

Replace the "generic service" in cm1 with the description of the service for your current project. Replace the placeholder description text in cm1 with a description or concept image of the product or service for your project:

 

2.2:  Concept Name

Replace the "new concept" placeholder text with the name of the concept you are testing in your project:

The "new concept" placeholder text can be found in the following locations:

  • Q2: question text
  • Q3: question text
  • Q4: question text
  • Q5: question text
  • Q6: question text
  • Q8: question text
  • Q9: question text

2.3:  Pricing Ladder

Replace the default pricing ladder in the Piped Variables section of the Q4_loop element with the appropriate prices for your project:

 

By default, the Pricing Study Template starts at the lowest price point, but the price laddering technique can start with any of the following:

  • lowest price point (raise price until unwilling to buy)
  • highest price point (lower until willing to buy)
  • middle price point (raise if willing to buy; lower if unwilling to buy)

2.4:  Reasons

Replace the "Reason" placeholder text in the rows of Q5 with the desired reasons for why respondents would/would not use the product/service in your project: