Developing a winning product isn't just about implementing the most ideal features — it also should be priced appropriately for your target audience. The right price can make all the difference in how appealing your brand is on the shelf. Part of the end-to-end, real-time consumer intelligence platform,Toluna Start, price optimization solution helps you determine the best price for your product or service.
Price optimization does much more than help your team craft an educated guess. Using a systematic, research-based approach, you can learn a lot about your customers and what influences purchases. Here, you'll make sound assessments and land on the most relevant price for your product through a series of best practice questions and outputs.
These and other key questions help you achieve a balance. With a pool of over 40 million people in over 70 countries, it's easy to pinpoint your ideal demographic and make informed decisions going forward.
Learn precisely how much your target consumers are willing to pay for a specific product or service. Toluna's fast, flexible approach incorporates expert pricing research modules that can be used standalone or incorporated into a concept testing solution. You'll have best practice pricing methods and options at your fingertips, with expert advice and support as needed:
Van Westendorp/PSM: Define the optimal price point for a new product.
Gabor Granger: Determine price elasticity for a product relaunch or price repositioning.
Toluna's pricing research experts can recommend the best approach for your needs. Ready-to-use question modules ensure you're using the right queries to receive the most relevant answers.
Toluna can help you take the data you receive and use it to your advantage. The research is delivered directly to an intuitive dashboard where you can easily uncover valuable insights. Filter by demographic and use segmentation to understand the price points that positively or negatively affect consumer behaviors and motivations.
Research is available two to four days after the end of fieldwork, with an average end-to-end project taking just one week or less. For help interpreting the results and pinpointing the best possible price points, consult Toluna's experts. Our team is on standby ready to assist.
Determine the best price for your product or service with price optimization in the Toluna Start platform. Request a demo of Toluna Start to learn more about price optimization and additonal new product development solutions.