Van Westendorp Price Sensitivity Meter

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Technical Memorandum 2009:001 W.R Paczkowski

Technical Memorandum van Westendorp Price Sensitivity Meter
Walter R. Paczkowski, Ph.D.
Data Analytics Corp.

September 25, 2009

W.R Paczkowski (Data Analytics Corp. )

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September 25, 2009

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Technical Memorandum 2009:001 W.R Paczkowski

W.R Paczkowski (Data Analytics Corp. )

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Technical Memorandum 2009:001 W.R Paczkowski

Part I Technical Memoranda

W.R Paczkowski (Data Analytics Corp. )

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Technical Memoranda
Technical Memorandum 2009:001 W.R Paczkowski

Data Analytics Corp. periodically issues technical memoranda on methodologies useful to those in the market research and predictive modeling communities. The memoranda also illustrate some of the analysis capabilities of Data Analytics Corp. Please feel free to send constructive comments and project inquiries to info@dataanalyticscorp.com

W.R Paczkowski (Data Analytics Corp. )

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September 25, 2009

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Technical Memorandum 2009:001 W.R Paczkowski

Part II Introduction

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Introduction
Technical Memorandum 2009:001 W.R Paczkowski

A frequent question marketing managers ask is:

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Introduction
Technical Memorandum 2009:001 W.R Paczkowski

A frequent question marketing managers ask is: ”What price should I set for my product or service?” For planning purposes, there is usually no best price.

W.R Paczkowski (Data Analytics Corp. )

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September 25, 2009

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Introduction
Technical Memorandum 2009:001 W.R Paczkowski

A frequent question marketing managers ask is: ”What price should I set for my product or service?” For planning purposes, there is usually no best price. A range of prices is sometimes preferable.

W.R Paczkowski (Data Analytics Corp. )

Technical Memorandum 2009:001

September 25, 2009

6 / 61

Introduction
Technical Memorandum 2009:001 W.R Paczkowski

A frequent question marketing managers ask is: ”What price should I set for my product or service?” For planning purposes, there is usually no best price. A range of prices is sometimes preferable. But then the question becomes:

W.R Paczkowski (Data Analytics Corp. )

Technical Memorandum 2009:001

September 25, 2009

6 / 61

Introduction
Technical Memorandum 2009:001 W.R Paczkowski

A frequent question marketing managers ask is: ”What price should I set for my product or service?” For planning purposes, there is usually no best price. A range of prices is sometimes preferable. But then the question becomes:

W.R Paczkowski (Data Analytics Corp. )

Technical Memorandum 2009:001

September 25, 2009

6 / 61

Introduction
Technical Memorandum 2009:001 W.R Paczkowski

A frequent question marketing managers ask is: ”What price should I set for my product or service?” For planning purposes, there is usually no best price. A range of prices is sometimes preferable. But then the question becomes: ”What is the best range?”

W.R Paczkowski (Data Analytics Corp. )

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September 25, 2009

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Introduction
(Continued)
Technical Memorandum 2009:001 W.R Paczkowski

The van Westendorp Price Sensitivity Meter is a method for determining the optimal range of prices for a product.1

1 Recommended Readings See Michels et al. in the application that emphasizes ranges. W.R Paczkowski (Data Analytics Corp. )

section of this Technical Memorandum for an September 25, 2009 7 / 61

Technical Memorandum 2009:001

Introduction
(Continued)
Technical Memorandum 2009:001 W.R Paczkowski

The van...
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