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Survey about the psychological price

Tools in order to :

  • Take into consideration more than just the simple economic criteria (production, distribution….) for fixing the retail price
  • Measure how acceptable the price is to the final consumers
  • Take into consideration the image the product projects through its sales price

The psychological price is a statistical tool which mirrors the specificity of the marketing approach. It consists in calculating the price which is acceptable for the greatest number of consumers for a defined product or service.

This technique is based on two hypotheses :

  • That a sales price which is too high will curb sales
  • That a sales price which is too low makes the consumer wonder about the quality of the product

The survey is an analysis of the consumer’s reaction to the price and helps the company to fix the price of a new product, judge whether the current price is too low or too high, and maximize the sales through a price which is considered acceptable by the majority.

This method has proved that there is a reference price for a certain category of products or services. It shows up the effects of thresholds as well as other effects such as round prices or psychological barriers.

Kheolia has made a commitment to Esomar

Respectful of the ethical code in favour of good practices and consumer protection, Kheolia Institute has joined Esomar, the association for survey professionals which now has a worldwide coverage.


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