Pricing Research:
Driving Informed Pricing Decisions for Your Business
Making the right pricing decisions is increasingly critical for brands in an inflationary macro-economic environment. The margin for error in setting prices is razor thin, and the cost of getting it wrong is high. Our team of pricing experts have a wealth of expertise in advising clients on how to get it right.
At Basis, we believe consumer insight is critical in shaping pricing strategy. It helps identify the right price points for your brand and de-risks the process of setting or changing price. But whilst pricing is hugely important, it is also one of the hardest areas to research in a way that gives clear, reliable and robust guidance.
With that in mind, we have developed a pricing centre of excellence over the past decade, covering a broad range of objectives. The types of issues we typically tackle are:
We help clients identify optimum price points – both for products or services that are about to launch as well as those that are already on the market.
We also help clients define the right service tiers – how many, what’s included in each, and how to price them for the right mix of acquisition, retention, and upsell.
Finally, we help clients shape the way they communicate price by illuminating where, when, and how much of a role it plays in the purchase decision for their brand or category.
There is no ‘one size fits all’ tool for pricing research – we use a wide range of established techniques, and also develop custom approaches when needed. As a quick overview of our toolkit, here is a selection of tools, methods, and theories we apply to pricing research:
Crucially, we never use off-the shelf, one-size-fits-all solutions. In advising clients on pricing strategy, we design bespoke insight programs that are rooted in our clients’ unique objectives. This ensures we provide guidance that is tailored, relevant, and impactful.
