Re:Ask HN: How do you set prices?
by joegosse on Friday March 10, 2017 @02:47PM
(#13841487)
Conjoint analysis is also a common approach. It requires less specific answers from customers about price points, which people are often unwilling to share.
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Re:Ask HN: How do you set prices?
by pccampbell on Friday March 10, 2017 @04:14PM
(#13842179)
If you can get enough solid survey responses, conjoint is ideal, but won't give you a lot in terms of a price elasticity curve. That's not necessarily a problem, but I'd recommend a combination of MaxDiff (baby conjoint) and Van Westendorp. Used in tandem you'll get some solid footing on packaging preferences, value props for positioning, and ultimately price elasticity.