Xpert Monadic Price
Solution
Development
Strategy
Trying to determine the optimal price point for your product or service? Upload a preview of your concept and prices you want to test and discover your maximum revenue price point. Opt to refine your analysis and get a maximum profits price point too.
- Optimal price points
Receive summaries and visualizations for purchase probability, purchase frequency, and maximum revenue and profit. - Summary table
Review key metrics for each tested price point and optimal prices in one convenient location. - Downloadable deliverables
Easily download a pre-populated .PPTX, an Excel summary of results, or access your raw data in a variety of file types.
- Purchase probability
- Revenue curves
- Optional metrics:
- Purchase frequency
- Profits curve
- Expected price
In this traditional monadic price test design, respondents are presented with the target concept and asked their likelihood to purchase at a single price point, randomly selected from the set of prices provided. Respondents may also provide ratings on descriptive attributes, and you can choose whether they provide these opinions before or after stating their purchase intent.
Purchase probability as well as your indicated Total Addressable Market (TAM) are used in a logistic regression to create a revenue curve for the range of tested prices. Results can be further refined by opting to include measures of purchase frequency. A profits curve can also be calculated by providing cost estimates of your concept. Compare your max revenue and max profits price points to determine which is the best choice for your business.
Note: At this time, this solution only supports dollar currency ($_.__) formatting.