What is Pricing Sensitivity Testing?
Pricing sensitivity testing helps you determine the optimal price for your product by measuring how consumers perceive value and price acceptability. By surveying customers on their pricing expectations, you can identify four key price points:
Too cheap – Where quality concerns arise.
Good value – A fair and reasonable price.
High value – Slightly expensive but still worth purchasing.
Too expensive – Where demand significantly drops.
When to Use Pricing Sensitivity Testing
Launching a new product or reassessing an existing pricing strategy.
Using data to guide promotional strategies and market positioning.
Understanding price sensitivity to optimise sales and revenue.
Why Pricing Sensitivity Testing Matters
Optimises pricing – Set prices that maximise sales and profitability.
Reduces risk – Avoid pricing mistakes that lead to lost revenue.
Enhances customer satisfaction – Align pricing with perceived value.
How Ideally Helps You Run Pricing Sensitivity Tests
Easy test setup – Create pricing tests quickly with an intuitive workflow.
Clear reporting – Instantly visualise key price points with a Van Westendorp chart, all in one view.
Get started today and find the price that works best for your customers and your business.