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Pricing & Value Research

Consumers are more sophisticated and demanding than ever before. Furthermore, markets are becoming more competitive and are constantly evolving. Developing the right pricing strategy has, therefore, never been more crucial to the growth of your business.

At its most simplistic level, there are just three ways for a business to increase profits:

  • sell more
  • cut costs
  • increase prices

While selling greater quantities or reducing costs involve considerable effort, increasing prices is a relatively straightforward task – and with costs unchanged, this strategy has an immediate impact on the bottom line, right? Wrong. Because it is a mistake to look at price in isolation. More important is value.

Value focuses on the compromise that consumers make between the benefits received from a product or service, and the cost of receiving it. It is vital that companies nurture their brand value in order to defend and extend market position, but it is often overlooked in research. Deep See has developed a new way of understanding the value of a brand: the Net Value Score gauges the success of a company’s brand and products in relation to the competition. By understanding whether customers feel products and services deliver better or worse value than the competition, we can apply the formula below to arrive at the Net Value Score metric.

 

Getting the price right is one of the fundamental requirements for any business – so why do so many companies put the priority on product, place and promotion, while putting pricing on the back burner? Deep See are experts at pricing and value research and can help you to:

  • understand pricing levels for new and existing product/service offerings
  • validate pricing assumptions
  • establish where price/product trade-offs lie
  • identify where added value can be delivered to the customer

We are experienced in helping companies to position themselves effectively through pricing and value research:

  • Which companies occupy the low-cost segment of the market?
  • Which companies are positioned as premium suppliers?
  • Where does your company lie, and where do you want to be?

Whether product benefits and price structures are realistic or hypothetic, the tools we use at Deep See are proven indicators of an effective and actionable pricing strategy, which will differentiate your company from the competition.

To learn more about how our pricing and value research can impact on your business, please get in touch with your nearest Deep See office.

Looking Further. Seeing More.