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Pricing Research  

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Seminar Summary:

This seminar will cover both traditional as well as conjoint/simulation based research methods for evaluating alternative pricing strategies. (see full course description)

 

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Training Course Syllabus:


What you will learn:
In this 1-day seminar, you will learn both traditional as well as conjoint/simulation based research methods for evaluating alternative pricing strategies. Specifically, you will learn:

How to design studies to assess price elasticity and to examine choice behavior under varying pricing scenarios.

How to use survey and field approaches to understand price effects.

When to use both basic and advance conjoint techniques and how to use them.

How to use the price sensitivity measurement to make pricing decisions for new products and services.

 

 

 

 

Pricing Research
Course Outline and Schedule
----- First Day -----
08:30 AM - 08:45 AM Introduction of Participants
 
08:45 AM - 10:15 AM Session I
BASICS OF PRICING RESEARCH; ANALYZING SALES DATA: The basic economic and psychological issues underlying pricing, including the role of reference prices and prospect theory in how customers react to prices; demand-oriented pricing; basic types of pricing research; direct vs. indirect measures of price sensitivity; structured and unstructured methods to collect reactions to price. Analytical methods to determine price elasticities from actual aggregate sales data: regression and time-series methods; calculating the economic value to the customer (EVC) for pricing industrial goods and services.

 

10:15 AM - 10:30 AM Coffee Break
 
10:30 AM - 12:15 PM Session II
PRICING RESEARCH BASED ON DIRECT QUESTIONING: Effective and ineffective methods for directly asking customers for their reactions to prices; how to conduct effective monadic and multi-price tests; introducing competitive prices into the survey

 

12:15 PM - 01:30 PM Lunch Break
 
01:30 PM - 03:00 PM Session III
TRADEOFF-BASED PRICING RESEARCH: How conjoint analysis is used to measure price sensitivity; some actual public and private sector examples of conjoint-based pricing studies; pros and cons of the conjoint methodology; conjoint based on individually-priced attributes; using brand-price tradeoff analysis to make tactical pricing decisions for established products, and a discussion of the pros and cons; understanding price sensitivity through discrete choice modeling.

 

03:00 PM - 03:15 PM Lunch Break
 
03:15 PM - 04:30 PM Session IV
THE PRICE SENSITIVITY MONITOR FOR NEW PRODUCTS: The basics of price sensitivity measurement (PSM), and its role in estimating acceptable price levels for new products; variations on the basic process; benefits and weaknesses of the method; what field users know about PSM.

 

04:30 PM - 04:45 PM Concluding Remarks
 
WE HIGHLY RECOMMEND COMBINING "PRICING RESEARCH" WITH "PRACTICAL CONJOINT ANALYSIS AND DISCRETE CHOICE MODELING" FOR A COMPREHENSIVE PROGRAM.
 

 

 

What Past Participants Have Said About This Seminar

Verbatim evaluations from participants who have attended the "Pricing Research" seminar. Names of evaluators have been left out as a matter of professional courtesy.

This is a very good seminar, covering most methodology in pricing research. I have been using these techniques for a while, but the theory behind those were not very clear. This seminar helped me to understand more.
Global Pricing
Pharmacia Corp.
 
Very interesting. A good broad overview of pricing research.
Pricing Analyst
Circuit City
 
Met my high expectations. Perfect.
VP, Marketing Research
RTM
 
Very good. (Content) well thought out. The examples were relevant, detailed, clear.
Senior Project Manager
Portland General Electric
 
Excellent and extremely useful. Exactly what I needed.
Market Research Director
MarketTools, Inc.
 
Very positive a good overview and explanation of popular strategies for evaluating price. Really liked the discussion of conjoint vs. choice modeling clear about differences.
Research Analyst
ACNielsen Vantis
 
Great seminar very informative.
Sr. Project Manager
Business News Publishing
 
Excellent. Definitely met my needs/expectations. . . Broad coverage of all areas. Well designed and thought out.
Account Associate
Directions Research, Inc.
 

Seminar Summary:

This seminar will cover both traditional as well as conjoint/simulation based research methods for evaluating alternative pricing strategies. (see full course description)

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