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Custom Research Solutions

Cashing in on Product Value

Determine Your Optimal Price Point
Price is the first potential obstacle new customers face when they decide to give your product a try. No matter the quality, your product will remain on the shelf if your target market is unable or unwilling to accept the cost required to put it into use. We offer tools to gauge pricing for new and existing products, for both price optimization and first-time pricing strategies. After determining your optimal price point, BioInformatics can forecast sales at that and many other points, to predict how profitable your product can become.

Companies in the same market regularly speculate and shift price points to optimize profit while remaining competitive. BioInformatics takes the guesswork out of pricing by performing multiple analyses to assess current pricing, find optimal price points, and guard against changes by your competitors.



			Case Study: Instrumentation Pricing Analysis A valued BioInformatics client sought to set a competitive price point for new life science instrumentation. We employed pricing research techniques to gauge both acceptable and optimal price points for the product. Our pricing analysis toolkit provided new insights into how potential customers viewed our client’s instrument pricing and other features.

The Pricing Analysis Toolkit
BioInformatics regularly utilizes three primary tools to investigate pricing issues and formulate profitable strategies:

1) Van Westendorp Price Sensitivity Analysis provides the optimal price point for virtually any product. In addition, this powerful analysis uncovers the points at which customers will perceive your product as “too cheap”, “too expensive” or “price indifferent”. BioInformatics uses this technique to help you set the exact price at which you will be the most profitable.

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2) Conjoint Analysis allows you to assess price in connection with a set of product features. Using conjoint, BioInformatics can help you build the optimal configuration of features at the price points desired by potential customers. Our strategy removes risk by assessing what prices customers are willing to pay for bundled product features.

3) Price-Performance And Relative Value Analysis isolates two crucial variables: price and performance. By assessing these factors independently and as a single unit, BioInformatics will determine whether potential customers perceive your product as a good value for the price or if performance is being overshadowed by immense cost. Finally, we compare your product to your competitors to understand which suppliers are seen to offer the greatest value in the market.

Delivering Results
Our unique combination of pricing tools provided a multi-dimensional approach that helped our client make educated pricing decisions. As a result, the company was well poised for their upcoming product launch!

Whether you want to determine your price, compare it to competitors, or explore new pricing options, BioInformatics can employ proven pricing techniques for your custom research endeavor. We know that you rely on your pricing strategy to increase revenue, so we rely on the best methods of pricing analysis to help you build that strategy!

To get more information on our Preferred Product Features analysis or to discuss further details of your potential market study, please contact us at 703.778.3080 ext. 12 surveys@gene2drug.com.