Visit us on the web at: http://www.themarketechgroup.com/?utm_source=SlideShare&utm_medium=Social+Media&utm_campaign=Willingness+to+Pay+Infographic Pricing new medical technology equipment has transformed from a “build it and they will come approach” to a much more price-competitive market that places the power of influence into your customers’ hands. As a result, marketing and pricing teams are under added pressure to get the “price right". Here are 5 common marketing research techniques used to help determine your customer’s “true” willingness to pay and price sensitivity. - Price-to-Value Analysis: Depicts the relationship between perceived value and the market price for each product being tested. - Cascading Pricing (also known as Laddering): Respondents are asked how likely they are to purchase the product at Price X and sequentially asked their likelihood to purchase the same product at lower price points. - Van Westendorp (VW) Price Sensitivity Meter: Asks potential customers a series of 4 questions and the cumulative responses are plotted on a chart to determine the acceptable price range. • At what price would you consider the product to be: • Too expensive? • Too cheap? • Expensive/High Side? • Cheap/Good Value? - Conjoint Analysis: The “gold-standard” that measures the trade-offs your customers make in choosing among products features relative to the price of those features. - Market Demand Modeling (Profit and Revenue Maximization): Uses a market-calibrated simulator with data derived from conjoint analysis to help forecast the impact of different pricing strategies on product sales, market share, revenues and profitability. The MarkeTech Group 502 Mace Blvd. Davis, CA 95618

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