Pricing Research
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Consumer Packaged Goods
What is this template and why does it matter?
It uses methods like Van Westendorp or conjoint analysis to find the acceptable price range for a product. It matters because CPG pricing decisions are hard to walk back once they're on shelf and in shoppers' expectations.
What questions should I ask?
The four Van Westendorp price points (too cheap, cheap, expensive, too expensive), or a conjoint task trading off price against packaging or formulation.
How many questions should it have?
4 for Van Westendorp; 8–15 choice tasks for conjoint.
When / how often should you send it?
Before finalizing pricing for a launch or reformulation.
What does a strong result look like?
A clean acceptable price range or clear attribute utility weights. Corvane plots the Van Westendorp curve and calculates conjoint utilities automatically.
Use these questions as a starting point for your research.
Q
At what price would [Product] be so expensive you wouldn't buy it?
Q
At what price would [Product] seem so cheap you'd question its quality?
Q
At what price would [Product] feel like a bargain?
Q
At what price would [Product] start to feel expensive, but you'd still buy it?
Start with this research template and customize it for your study.
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