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DOCUMENT DESCRIPTION

The decision for pricing a product or service isn't as simple as it seems. 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 consumers are willing to pay for a product. There are a host of research-based pricing approaches available. This deck provides a detailed overview of the Van Westendorp Price Sensitivity Meter (PSM) approach.

The Price Sensitivity Meter approach encompasses the following key steps:

1. Plan and Execute Market Research Survey
2. Analyze Data
3. Evaluate Intersections to Determine Price

The PSM is an effective tool of analyzing prices for innovative, emerging products.

Additional topics discussed in this presentation include Direct Price Elicitation, Indirect Price Elicitation, Conjoint Analysis, and Pros & Cons of the PSM approach.

The slide deck also includes some slide templates for you to use in your own business presentations.

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Source: Price Sensitivity Meter (PSM) PowerPoint document

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Price Sensitivity Meter (PSM)

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File Type: PowerPoint (pptx)

Tag(s): Pricing Strategy Price Sensitivity Conjoint Analysis

Number of Slides: 21 (includes cover, transition slides)

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Upload date (first version): Jul 8, 2020

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