London, UK, 16th April:
Harris Interactive, the full-service digital consultative custom market research agency, today announces the latest addition to its New Product Development (NPD) Express suite – Price Express.
Price Express allows companies to establish ideal price points and price elasticity, and apply consumer insights to determine costing strategies for their products and services. It covers two established pricing methodologies that can be easily accessed via a standalone pricing survey, combined with concept/proposition testing, or included alongside fully bespoke content. Researchers are given a comprehensible view of the outputs on an easy to use dashboard.
The pricing methodologies include Van Westendorp (Price Sensitivity Meter, PSM) and Gabor Granger. As background, Van Westendorp enables companies to determine an acceptable range of prices for a product or service to generate an optimal price point, while Gabor Granger determines the price elasticity of products and services.
This latest expansion also includes Price Scout, a segmentation of consumers based on product and price motivations within a category, which is a proprietary Harris Interactive methodology. Price Scout helps to establish appropriate marketing, communication, and pricing strategies in line with consumer psychology.
Commenting on the launch, Debbie Senior, VP Global Products & Automation said, “Growing numbers of our clients are requesting fast, cost-efficient, and high quality end-to-end development and optimisation solutions for their new or existing products and services. Through NPD Express we can deliver a consistent approach and service across the innovation lifecycle whilst enabling flexible and modular access as needed. I’m delighted that pricing research is now one of its components.”
The products, powered by Toluna technology, complement other agile and express offers within the company’s offering including Need Express, Idea Express, Concept Express, PackTest Express, Choice Express, Harris 24 and popUP Communities.
Harris Interactive is a full-service, consultative custom market research agency. We are responsive, agile and committed to our clients’ success above all. We have a long history of helping brands succeed and we continuously innovate new means for obtaining insight. We set ourselves apart as we fuse sector expertise and award-winning research designs with innovative tools and technology to deliver impactful, actionable insights that keep our clients ahead of what’s next.
Expert in all areas of research design, implementation, analysis, and reporting, Harris Interactive has particular strengths in customer experience, brand and new product development. Working internationally, our activities in the UK span both business-to-business and consumer markets.
At Harris our legacy, expertise and relationships made us who we are, but technology drives our future and speed of delivery allows us to anticipate challenges.