|Author(s): Florian Bauer
Collection: Congress 2010 - The changing face of market research
Keywords: Conjoint Analysis , Choice Modelling, Pricing Studies
ESOMAR Best Paper Award 2010/2011
ESOMAR Congress 2010 Award Winner - Best Methodological Paper
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Price optimisation is the most efficient lever to maximize profits but all classical price research tools fail to deliver optimal results as they still assume consumers to behave like a “Homo Oeconomicus”. Using several examples, this paper will highlight the shortcomings of classical tools like conjoint analysis or PSM and develop an open source pricing research framework – the “Psychological Price Profile” – that helps to broaden the research scope while still leveraging the advantages of the classical tools. Moreover, this paper will present the core results of a multi-national study involving 16 countries and 10 product categories.