MMR Strategy Group conducts pricing optimization research to help clients determine the most profitable price for their product or service.
Of all of the elements of the marketing mix, pricing is uniquely important. For example, price can:
- Determine whether a consumer will consider purchasing a product or service.
- Convey a signal of brand image and product quality.
- Provide a way for marketers to segment a market based on price-sensitivity.
We use sophisticated tools and analysis methods to help our clients optimize pricing and determine pricing tactics, including:
- Concept and product testing methods that incorporate price in the study of new concepts and products.
- Conjoint, MaxDiff, and discrete choice methods that measure how consumers trade off price versus other attributes.
- Demand curve analyses that use pricing surveys to optimize pricing by projecting revenue and demand at different price points.