The Client: Overseas Electronics Company
The Goal: Launch a new SMART technology product in the UK.
- Forecast product demand across UK customer segments.
- Identify the optimum pricing strategy for maximum ROI.
Lab Packages Utilised
The optimum price point
A UK representative sample of our Lab Panel took part our specialist pricing sensitivity survey. Using the most sophisticated statistical pricing analysis techniques our Lab experts translated survey data into actionable business insight. Optimum price points within and across segments were revealed.
Identification of 3 target segments
A number of product price points were recommended by our Lab experts for testing in relation to price sensitivity and necessary profit margins and the Lab Panel went back to work.
Through further analysis our experts forecast the product demand at the chosen price points in each customer segment. 3 distinct target segments were isolated for launch and our Lab Experts designed a pricing model for maximum market penetration.
- The UK market size for the new SMART product was identified.
- A pricing model was designed and sales forecasted.
- Product launch sales exceeded those forecasted.
The company focused their launch strategy on the 3 target segments most likely to buy at a price point slightly above the optimum. Demand at this price was forecast as achieving maximum ROI. Sales exceeded those forecast and profits soared.
See how we help you to create a product/service pricing model to maximise ROI...