There are four major techniques used for pricing research: Gabor Granger technique Van Westendorp Price Sensitivity Monitor (PSM) Conjoint Analysis (also known as Discrete Choice Analysis) Brand Price Trade-Off (BPTO) Gabor Granger Technique Gabor-Granger pricing research is also known as direct pricing research. In this technique customers are asked if they would buy a product […]
Articles Tagged: Market Research Process
What is Pricing Research?
Pricing research is a research method which uses research techniques geared towards measuring the impact of change in prices to the demand of any product and also to determine the optimal price for new products. Pricing research is quantitative in nature. It helps organizations find optimal price a customer is willing to pay thus helping […]
What are different types of Customer Segmentation?
Customer segmentation is majorly of following types: Demographic Segmentation Demographic segmentation is used to divide customers into groups based on their age, gender, income level, religion or ethnicity. Geographic Segmentation Geographic segmentation is uses factors like nations, states, regions, cities, postal/zip codes to divide customer base into various groups. This helps marketers run specific marketing […]
What is the process of conducting a marketing research?
Marketing research is a process of collection of gathering, analyzing and interpreting raw data about consumers to derive usable business information which can facilitate marketers in decision making. Marketing research process can be broken in to following major five steps: 1. Defining the Problem and Research Objectives The first step in marketing research process is […]