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...