Harris Interactive has expanded its New Product Development (NPD) Express suite of solutions with the addition of a tool called 'Price Express', through which companies can apply consumer insights to determine costing strategies for their products and services.
Using sister company Toluna's research automation technology, Price Express covers two established pricing methodologies that can be accessed through a standalone pricing survey, combined with concept/proposition testing, or included alongside fully bespoke content. The first is Van Westendorp (Price Sensitivity Meter - PSM), which enables companies to determine an acceptable range of prices for a product or service to generate an optimal price point; and the second is Gabor Granger, to determine the 'price elasticity' of product and services. In addition, the expansion includes a proprietary methodology called Price Scout, offering a segmentation of consumers based on product and price motivations within a category, used to help establish appropriate marketing, communication, and pricing strategies in line with consumer psychology.
Commenting on the launch, Debbie Senior (pictured), VP Global Products & Automation, said: 'Growing numbers of our clients are requesting fast, cost-efficient, and high quality end-to-end development and optimisation solutions for their new or existing products and services. Through NPD Express we can deliver a consistent approach and service across the innovation lifecycle while enabling flexible and modular access as needed'.
Web site: www.harris-interactive.co.uk .
All articles 2006-19 written and edited by Mel Crowther and/or Nick Thomas.