MMR Strategy Group

Consumers evaluate price within a larger context. MMR helps clients navigate the complexities and nuances of pricing strategy.

Of all elements in the marketing mix, pricing is uniquely important. Price may determine if a consumer even considers purchase of a good or service. Price may convey quality to customers. Price may also provide a means to segment a market between different quality and service levels. Perhaps most important, price is a powerful lever with unparalleled influence on profits and market share.

Surveys routinely underestimate the impact of price on purchase decisions and satisfaction. Price can have a halo that impacts how consumers evaluate other aspects of a product or service.  Also, consumer consideration of price can operate in different ways than the evaluation of other aspects of a product or service.

MMR has extensive experience with measuring the perceptions of price and value. Our studies use sophisticated tools and analyses that help our clients manage and optimize pricing, including:

• Product and Concept testing methods that incorporate price in the study of new concepts and products.
• Conjoint, MaxDiff, and other types of choice analyses that measures how consumers trade off price versus other attributes.
• Demand curve analyses that use pricing questions to construct demand curves showing revenues and demand at different price points.

MMR has been retained to help our clients:

• Set prices for new concepts and products
• Evaluate the pricing of items on restaurant menus
• Optimize pricing for new products and services

Contact us to learn more