IPR

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Process Steps

  • Compile a list of questions, formal hypotheses, or company suspicions regarding price and potential pricing strategies.
  • Identify the set of company products, product bundles, and competitor offerings of interest.
  • Identify the range of relevant prices for the products of interest.
  • Identify any specific customer groups of interest, and set quotas for each group.
  • Develop the simulated shopping experience and educational materials to support the shopping experience.
  • Conduct IPR pricing survey; alternative survey media are available.
  • Compile and analyze survey results.
  • Present executive summary and recommendations.
  • Deliver pricing simulator and supporting analysis to staff.