Optimize Product Price

Solution Overview:

Fuel Cycle’s monadic price testing solution enables you to determine how changes in price, or different proposed prices, impact key metrics such as perceived quality or likelihood to purchase by using advanced analytics. Assess the impact that changes in price could have on the performance of your product or service. These insights will help you determine how to adjust your price to maximize profit.

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Who is it for?

Product managers who want to find the optimal price for their product.

Requirements

1. Provide an introduction to your product or service, including an image and description.

2. Submit all potential price points for your product or service.

3. Submit three custom agreement statements to measure your own custom metric

4. Customize your survey by specifying the product/service category and desired action metric.

5. Determine how you would like to launch this study - to your community, to a panel, or collect responses on your own via an external distribution link.

Insights captured

• Intent to action
• 3 customer agreement statements
• Perceived quality
• Perceived value
• Satisfaction with price
• Opportunities to improve (open-ended)

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Supercharge your insights!

Add on advanced analytics to your reporting for this solution. This methodology is compatible with the following advanced analytics:

• Retention & Conversion Analysis
• Key Segment Discovery
• Significance Testing

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What you get:

Instant data analysis

Easy and intuitive results

Customizable charts and graphs

Export to common formats for sharing

Statistically tested scorecard showing significant impacts of price changes across key metrics

• Top box performance percentages vs. Mean

• Significance comparisons between prices per metric

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To ensure your survey data is trustworthy and reliable, this survey includes built-in bot detection, fraud prevention, and automated open-end quality checks - powered by Research Defender. For more information about these features, please contact your Fuel Cycle account lead.

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