Ipsos Launches Pricing Research Suite
August 12 2004
Two Ipsos divisions, Ipsos-Insight and Ipsos-Vantis have launched a new full-service pricing strategy suite called 'Price Evolution', which assists manufacturers and marketers with pricing decisions at key stages in a product or service life cycle.
Ipsos says that getting pricing wrong could mean 'any business's killer concept could be relegated to the failure graveyard, home to between 33 and 90 percent of all new product introductions'.
Price Evolution offers four stages of customized pricing solutions:
- Price Test, for early in the development process
- Price Optimization, typically employed after a product or service has passed through the initial concept testing stage
- Price Estimator, used pre-launch, and
- Market Simulator, for a mature product or service.
The suite combines sophisticated market research capabilities with a validated forecasting model to adjust consumer stated survey data to reflect actual behaviour. Clients can test the impact of variable pricing and marketing strategies-such as different price and feature combinations, or lowering the price to meet price-aggressive channel requirements-on sales.
According to Tom Neri, President of the Services, Health, Technology & Communications division at Ipsos-Insight, 'Pricing is no longer subject to guess-work. Businesses need to build pricing strategies on accurate, reliable and real-world insights, from concept inception to full market launch.
Price Evolution is designed to provide actionable pricing answers throughout the product life cycle for new as well as existing products and services, determining whether a concept will command a price high enough to justified further R&D, assessing the value of a product or service features to determine the highest price, projecting market share and forecasting revenue, and providing the guidance to keep the product or service competitive'.
More information is available at
www.ipsos-insight.com/PE . Ipsos-Vantis, which uses research to guide marketing and product development for the services and durable goods sectors, is online at
www.ipsos-vantis.com
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.
