What is the magic number?
Pricing Research is a systematic inquiry into determining the most effective pricing strategy for a product or service.
•Involves assessing consumers' willingness to pay through surveys, market analysis, and experimentation. By examining price sensitivity and perceived value, businesses can pinpoint the optimal price point that maximizes profitability and consumer acceptance.
•This professional investigation helps companies set competitive yet profitable prices, aligning with market dynamics and customer expectations.
•Enables businesses to make informed decisions, balancing competitiveness and profitability while ensuring sustained customer satisfaction and market positioning.
