Product Experience (PX)
Price Sensitivity Meter
We have implemented the Van Westendorp Price Sensitivity Meter (PSM) methodology as a solution. Identify the price range that consumers are willing to accept and determine the appropriate price points for your objectives. This solution aids in establishing pricing strategies for the products/services to be launched.
• When identifying the price range of a product/service before launch
• When assessing whether price adjustments are needed after launch
• A PSM chart that shows the acceptable price range for products/services and the optimal price point suitable for the purpose.
Please check if the solution is appropriate for your situation in the article below. [Summary of the PSM Concept]
This is a solution for deriving an appropriate price range using the Van Westendorp method.
How likely are you to purchase a product when a concept is released?
If a product of this concept is actually released, at what price does it begin to feel 'inexpensive'?
