Price research

Price Sensitivity Research

The methodology allows to determine the maximal/minimal fluctuation of the admissible price and optimal price for the Client’s product.

Price Elasticity Research

The methodology allows to forecast the consumer reaction to changes in the product price. The software application "Market Simulator", supplied together with the research results, allows to "mock up" different variants of changes in the product price and in the real-time mode to see the possible reaction of consumers to these changes.

GfK Price Challenger^® The methodology tests the acceptance of the brand/product price by consumers compared to competitors. This methodology is the most effective for further price optimization of the entire existing brand portfolio. It can also be used to test novelties, e.g., new pack sizes and flavor variants.

• Using scales of price thresholds and price elasticity, it describes consumer behavior in case of changes in the price for brand/product
• It models any planned price changes, e. g., outside existing price borders revealed in research panels

Unlike traditional price test, GfK Price Challenger^® methodology grants a more precise picture of the consumer reaction to price changes: it covers a respective market, e. g., the Client’s and competitors’ brands and allows to model consumer behavior under any price variations.