• Phil Todd

Market research checklist! How to research product pricing.

Pricing is a key component in your product strategy. It is just one component of a product or business plan. Price says a lot, so its imperative to get it right.


Here's a simple 7 point process to get actionable and insightful pricing research.



Price positioning – what are your objectives?

  • Pricing is a key component in your product strategy. Price says a lot, so its imperative to get it right.

  • Its not all about revenue, but also about brand value and positioning. So step 1 is to work out your over-arching brand and product strategy.

  • You also, at least for the purposes of research, need to define what it is you are testing. What features etc. Respondents can’t respond to a price about something a bit woolly!

  • You can however test several versions of a product or service.

What precise product are you asking about?

  • You also, at least for the purposes of research, need to define what it is you are testing. What features etc. Respondents can’t respond to a price about something a bit woolly!

  • You can however test several versions of a product or service.

  • As part of the pricing research it is really useful to be able to understand what aspect of your product or service is actually driving perceived value.

  • There are many ways to do that, and product research is a whole separate research topic. But as part of pricing research it is possible to gain some insight as well.

Support your insight with qualitative as well

  • As well as doing the quantitative research, do a small number of in-depth interviews as well.

  • See the language that potential customers use.

  • Understand what they immediately gravitate towards in your product or service.

  • Understand any current pain points so you can tweak your offering.

  • Build all your results back into your strategy. Make sure everything is consistent and coherent, make sure your revenue generation is in line with strategy as well.

  • Lastly, review and track progress!


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