Business context & TGM Solution
The marketing pricing strategy is an integral part of any business, and the decision on how to set prices can determine the fate of a product. So how can you determine what is the right product pricing based on both your business objectives and your targetted customers? And how do you decide who to set up pro plans for and who would receive a discount? TGM Research has an experienced international analytical team that will offer you advanced data-based products allowing you to define prices and create an effective pricing strategy.
Adapt price to target group
To find out the best pricing strategies in marketing, you need to take into account several factors combining factual elements such as costs of production for your product or service and the margin you want to establish. Do you want to sell high and premium with low volumes or reach the maximum number of consumers at a lower price with lower margin but higher volumes? Do you care about competitive pricing? Or maybe consider several pricing strategies for different target groups?
Moreover, it is necessary to understand more subjective and psychological aspects, and this is where conducting research to gather feedback is important.
Make pricing consistent with the image
Pricing strategies are developed based on how your brand is perceived by the consumers, on what value they see in your product and what image they have of your brand. Combining qualitative research with quantitative surveys allows you to evaluate the psychological prices of your product or service and find out what consumers would be willing to pay and whether they would buy from you or not.
Try effective pricing research
TGM Research’s agile surveys will help you design a competitive pricing strategy by surveying a sample of respondents representative of your potential consumers and your market. Set your prices well, based on customer feedback.
Use consultancy service - rework results with us
Send us your inquiries or use our research consultancy services to design a study and learn more about price sensitivity for your brand.
You can also elaborate on different scenarios to assess price elasticity and forecast demand with price changes or simply benchmark the competition by simply asking your potential customers how much they spend for a category of product and per brand. Having done that, you will get an idea about how many customers will come ready to pay for your products and services when you lower the prices, and how many of them will leave when the prices go up. Use the data from the research and all the knowledge gathered about your customer so that you will be able to determine the best business model for you.
Using mobile research, you will have all the tools to understand your market, your competition and your future consumers to design a pricing strategy that works.
Our analysts acquired experience from some of the largest research companies, and are up to date when it comes to the latest trends in the research market. By combining their skills and knowledge, they create effective solutions that can be used all over the world. Our accumulated experience allows us to set the best pricing for you.
We conduct all qualitative research online. We have processes prepared for recruitment, verification and rewarding participants remotely. By using a variety of qualitative tools, we are able to extract more information that will put quantitative research results in context to validate your pricing strategy. When do customers pay attention to prices? What aspect of the price is important to them? What role does price play in the purchasing decision? Such exploratory qualitative research questions are good material for a broader understanding of the pricing context.
We understand that time is crucial during the product development process. You need to test prototypes, iterate and validate for each sprint and decide whether it’s a Go or a No. TGM Research will get results and answers to your questions in hours. Verify your assumptions or adjust them with unique access to our digital audience in more than 120 countries, anytime. We are ready to help.
The affordability of our services allows you to increase the number of studies that you need to design your pricing strategy with the same research budget. We also propose a bundle of credits for even higher economies of scales, to simplify your invoicing process and increase process turnaround. We have also made discount plans for our services available for universities, NGOs, start-ups, etc.
We are well acquainted with the specifics of many markets thanks to our long history operating globally. With our experience in the field, we can create added value, which we provide in our expert view on the research. The pricing logic is influenced by the customs, culture and economy of a given country. We will look closely at each market to deliver the best pricing strategies.
TGM conducts research globally. You can rely on us with your multi-country research and across country coordination. We make it easy to build a strategy at a global level by keeping in mind the local specificities and each market difference.