Identifying what the market wants is a critical issue for most executives. Likewise, the decision on how much to charge for a product is also crucial for planners. This is where Market Research comes to rescue. One of the Marketing Research methods that researchers most commonly employ is the Conjoint (Trade-off) Analysis. Conjoint Analysis helps […]
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Exploring Van Westendorp Price Sensitivity Meter (PSM)
The decision for pricing a product or service isn’t as simple as it seems. It is a key consideration for executives. Pricing way above the rival products risks not attracting the required customers while charging way below the competitor products could be equally detrimental. Manufacturers can utilize research to have a better understanding on what […]
