Van Konan
Solution
required
Strategy
Development
Go beyond Van Westendorp for determining your optimal price points for max revenue and max profits. Van Konan incorporates vital context, such as likelihood of purchase, frequency of purchase, and total addressable market to get you more robust pricing recommendations.
- Van Westendorp
Find your optimal price point at the intersection of too cheap and too expensive. - Van Konan add-ons
Provide your cost information and the Van Konan will ask a couple extra questions to uncover your max revenue, max sales frequency, and max profit.
Pricing research
Use a Van Konan when you have a target price in mind and want to compare it to consumers' unaided price estimates (Van Westendorp) and aided purchase likelihood (Van Konan) to determine your optimal price point.The Van Westendorp pricing exercise consists of four standard questions, gauging where consumers would consider a product too cheap and too expensive to purchase. The analysis charts these sensitivities and finds the sweet spot to identify the optimal price point.
Because Van Westendorp fails to consider contextual features like likelihood and frequency of purchase, it is difficult to directly identify the max revenue and max profit price points. Van Konan builds on top of this exercise, allowing you to expand the question set so you can draw these conclusions and identify more realistic optimal price points for consideration in your business decision making.
- Minimum of 650 respondents are required
- Accessing the Van Westendorp
To run a traditional Van Westendorp without Van Konan features, simply do not select the max revenue option
When including Van Konan options, click the “open infographic” link to see the Van Westendorp results.