Making Survey-Based Price Experiments More Accurate

Marketers frequently want to know how the sales of their brand will respond to a change in price. Survey-based price experiments are a convenient and cheap method of finding this out but they have a reputation for giving inaccurate estimates of price effects.
  

Making Survey-Based Price Experiments More Accurate

Tony Lewis Massey University,Malcolm Wright  andPhil Gendall Marketing Science Centre, University of South Australia

INTRODUCTION

Marketers frequently want to know how the sales of their brand will respond to a change in price. The best way to find this out is with an experiment. Experimental pricing research has many advantages including ensuring adequate price variation, controlling for confounding factors and the ability to test many different price conditions. Unfortunately, field pricing experiments are relatively difficult and expensive to arrange.

An alternative, cheaper approach is to use personal...

Not a subscriber?

Schedule your live demo with our team today

WARC helps you to plan, create and deliver more effective marketing

  • Prove your case and back-up your idea

  • Get expert guidance on strategic challenges

  • Tackle current and emerging marketing themes

We’re long-term subscribers to WARC and it’s a tool we use extensively. We use it to source case studies and best practice for the purposes of internal training, as well as for putting persuasive cases to clients. In compiling a recent case for long-term, sustained investment in brand, we were able to support key marketing principles with numerous case studies sourced from WARC. It helped bring what could have been a relatively dry deck to life with recognisable brand successes from across a broad number of categories. It’s incredibly efficient to have such a wealth of insight in one place.

Insights Team
Bray Leino

You’re in good company

We work with 80% of Forbes' most valuable brands* and 80% of the world's top top-of-the-class agencies.

* Top 10 brands