Customer Price Perception
Retail Pricing Strategy
In 2018 we worked on a 12 week project to help a major UK retailer with:
1) Insights on key value drivers (both relative importance to purchase and client performance vs market)
2) Insights on price perceptions, including overall price satisfaction, cross-market benchmarking (perception vs. actual), effect of bundling on purchase decision
B2C Pricing Research
Two main outcomes of the project:
1) Qualitative research through the focus groups - allowed the client to have a clear understanding of all customer value perception challenges and the role pricing and menu design plays within this
2) Quantitative research through online panels of 1500 people - allowed the client to have a detailed view on the customer pricing/value issues and an answer on potential menu design formats to take to in-market testing
Client
Specialisms involved
In 2018 we worked on a 12 week project to help a major UK retailer with:
1) Insights on key value drivers (both relative importance to purchase and client performance vs market)
2) Insights on price perceptions, including overall price satisfaction, cross-market benchmarking (perception vs. actual), effect of bundling on purchase decision
B2C Pricing Research
Two main outcomes of the project:
1) Qualitative research through the focus groups - allowed the client to have a clear understanding of all customer value perception challenges and the role pricing and menu design plays within this
2) Quantitative research through online panels of 1500 people - allowed the client to have a detailed view on the customer pricing/value issues and an answer on potential menu design formats to take to in-market testing
1. Recommendations for addressing value-perception issues
2. Recommendations for addressing price-perception issues, including forecasted impact on sales volumes
3. Two prototype menu boards to take to in-market testing
Highlights
